Comments on: UAE considers new laws to prevent Ex-pats from leaving after loan defaults

By: Realitysole

Realitysole — Wed, 07 Oct 2009 17:23:31 +0000

Cheques in the UAE is part of the slavery system which are implemented to control people , when you enter the country you need sponsor to live,eat or work , and this sponsor is your company or your guarantee cheques.
Banks are not very keen to recover their money since they will automatically get it back from insurance companies once they take legal action agains you and throw you in jail .
Their main task is to make example out of you and ensure that other slaves will never dare and do the same mistake that you did .
UAE legal system is a copy of the UK and US system in the 17 and 18 century and you are treated like a nigre slave no matter what is your nationality, education or position ( you are disposible at any time , and you will be trated like any other creminal by police and in jail ) the best example is what hapen to business men and large companies CEO who are spending time for bounced cheques crime (there is thousand of them in dubai jails )

By: Asim

Asim — Mon, 07 Sep 2009 13:09:01 +0000

if person can not pay is loan what is the final jail in jail they cannot recived money, how long they can keep in jail

By: jaspal

jaspal — Wed, 12 Aug 2009 07:50:25 +0000

hi mr. pillai,

how long they keep into the jail for loan defaulter, cant they deport the defaulter if he has not job. kindly reply pls
thanks
jaspal

By: James Twine

James Twine — Mon, 03 Aug 2009 13:03:46 +0000

Hi,I’m also a victim of recession in UAE and I was decided to leave UAE as my last resort.I was looking for a job after my retrenchment unfortunatety I didn’t found any.My previous company they didn’t did any cancellation of my visa as consideration for me. I was a good payer after my layoff for about 4 months. I know my responsibility and still thinking about it in a right time.

May I know is my loan is insured? How true that loan in UAE is insured. PLease have a respond. Thanks in advance

By: bret

bret — Sat, 11 Jul 2009 15:56:44 +0000

Can someone here willing to help me?I lost my job after my termination to my previous company which was the reason for my unpaid credit cards.I was able to find a job, got my employment visa but was not able to get residence visa as bank filed a case against me. I tried to talk to them but insult and a cold treatment was all i got.I am willing to pay that is why I did my best to find a new job however, rejection is what I get. Now, I do not know what to do. I hope someone here can help me out as I am just considering to surrender myself in the police. My chance of paying now is unclear as the company withdrew their offer as they cannot issue me a residence visa

By: anand pillai

anand pillai — Mon, 29 Jun 2009 14:05:39 +0000

I have been in U.A.E. for more than 5 years and have an account and credit cards in H.s.b.c. bank and R.B.S. banks.
I have been a very good customer and my approximate expenditure was approx 5 to 7 k per month in terms of interest and other charges along with the minimum 5%
which means the banks were collecting around 40 to 50 k dirhams as interest and service charges
but now during the recession when I defaulted payment due to unpaid salaries the collections department staff are bawling and calling me a cheat, fraud and put me in jail.
The worse part is that all these persons are also expats who have come here for earning a living who can understand the grievences.
it is really appalling

By: eduardo

eduardo — Thu, 25 Jun 2009 06:28:37 +0000

i presently reside in qatar and i have also an oustanding loan its 6 months i was not able to pay the monthly dues and dont have any job i was retrenched from my company last dec. 2008. for it is better for both parties the debtors and the lender (banks) to help its other .the defaulter is not at fault when he cannot service his monthly dues when he is jobless .if the debtors can find a job then he can continue paying his loans any amount possible. so there must a coordination from the bank , from the authorities to help the hopeless individual to find some relief but not threatening them . anyway they stay in the country where the bank can count them and as an assurance that the debtors stay because he willing to pay his loan , the must give whatever support to ease their sufferings .

By: Mark Knowles

Mark Knowles — Wed, 13 May 2009 08:00:59 +0000

Unfortunately – the laws in most countries favor the banks. I do not see the point in jailing some one for non-payment of a loan.

“Punishment ” does not make any sense to me. It certainly won’t get the loan repaid.

By: priya

priya — Wed, 13 May 2009 07:53:40 +0000

We are also the victim of the global financial crisis, due to that we couldnt pay to our loans on time for more than 3 months, but the bank put my husband in jail and we are in streets now, our business is closed, we are forced to vacate the house and these bank ppl are harassing everyday by coming home, calling and threatening over the phone using abusing words. I request all the banks, most of the business runs on loans and you are taking interest and all the blah blah for that, please check the genuinity of the person, dont say that it is our duty to file a case, instead check the persons ability to pay back the loan, allow him to work and get it, ppl who are genuine and want to pay back, like those ppl only are suffering like my husband and his family is in streets now.

By: Lily

Lily — Wed, 29 Apr 2009 05:04:22 +0000

Banks dont care about people, its business out of the interest and hidden charges their putting on their loans & credit cards. You pay the minimum its like your just maintaining your current balance coz next billing the extra amount will be eaten away by service charge, credit sheild, insurance blah blah blah, and alte payment fees… deafulting on payments they will call your mobile, call your office, and be warned to file case against you, that you have until such time this day to pay.. huh slowly thier killing people…killing thier families as well..

Why not make some solutions, like to restructure or ask the borrower how much he can pay, better than not paying at all..slowly they can gather some funds.. much better than forcing people to leave the country.

People who are left behind, and that are willing to pay and settle all thier loans are threated hurshly with no respect, being theated like an animal or criminals. I hope bank will sort out solutions in helping the people that can help them as well.. not by scaring people and throw them to jail. In this time of crisis certain measures should be done not by maiking another laws for defaulter but rather remidies to ease the burden of willing payers.