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Old 08-12-2018, 03:07 AM   #1
Yousef
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Default Cheque bounced fine

Dear all,
I had a personal loan and the outstanding was around 120k. Three months back the bank bounced the security deposit cheque with around 175k. The police called me an di went to the police station and paid 10k fine and closed the case and since that day I am not getting any more calls from the bank collection.
My question is, will there be any more cases on me in future? A civil case maybe?
If I am planning to take a car loan now, will other banks approve it or there is no chance?
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Old 08-13-2018, 02:29 AM   #2
AFFA
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Default Re: Cheque bounced fine

I wish to inform you that as the amount of default was below AED 200,000 the bounced check was treated as a misdemeanor subject to a financial penalty of AED 10,000. You may contact the bank and re-structure the repayment of the debt with the help of friends, associates and relatives who stand in as guarantors. Alternatively, you may seek guidance from a local attorney.

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Old 08-13-2018, 03:45 AM   #3
Dontyouworry
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Quote:
Originally Posted by Yousef View Post
Dear all,
I had a personal loan and the outstanding was around 120k. Three months back the bank bounced the security deposit cheque with around 175k. The police called me an di went to the police station and paid 10k fine and closed the case and since that day I am not getting any more calls from the bank collection.
My question is, will there be any more cases on me in future? A civil case maybe?
If I am planning to take a car loan now, will other banks approve it or there is no chance?
Only if you issue them one more cheque, the bank can file another case on you.
Definitely not, your details will be updated in the ECB and no banks will provide you any more lendings, even if that is a secured one as a car loan or mortgage.
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Old 08-13-2018, 09:37 AM   #4
Lexus
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Default Re: Cheque bounced fine

Even though you paid the fine the debt still exists as unpaid. You will be released from the debt only after you settle it with the bank. The bank still has right to file a case against you.
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Old Yesterday, 08:03 AM   #5
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Sorry, pls don’t get upset or be afraid of what AFFA and Lexus mentioned there.

As per my experience, what “don’t you worry” told is correct.

Banks will normally bounce the cheque and we will clear the case by paying the fine. Ofcourse, banks can go legally by filing civil case, but the cost to do that is too high. After all, even if they did like that and if we are not willing to pay or cannot pay, it will be total loss to the bank.

So banks won’t file civil cases usually for a personal loan/ credit card
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