What to do UAE bank debt collection agency is harassing
19-Jun-2023 (In Banking / Finance Law)
Hello sir, A debt collecting agency called Sunshine is harassing me to pay the loan of EmiratesNBD bank UAE. They even visited my house and started harassing me and threatening that they will come with police and arrest. They are also saying they will proceed towards filing of an Interpol case and will Blacklist my Passport I even wish to settle but they are demanding huge money for settling. Also ,5 years before another agency has collected some amount from me and they have disappeared. So kindly Please advice me, What step should I take now ? can they file a case against me in India for UAE bank recovery ? How can I protect myself from their Harassment? can they produce any arrest warrant in India? Please Advice
1. UAE bank can authorize any collection agency to recover the money from you.
2. The process of recovery should be through legal proceedings and can not be through harassment.
3. I suggest you to approach near by police station to file complaint against the collection agency.
2. The process of recovery should be through legal proceedings and can not be through harassment.
3. I suggest you to approach near by police station to file complaint against the collection agency.
Can I get home loan if I have settlement?
After settlement, can I get a loan? When you settle a loan, you agree to pay part of the debt and the creditor will forgive the remainder. It can be an effective way to reduce debt, but can also negatively impact your credit score. 25-Nov-2022
Can I settle my home loan early?
Yes, you can pay off a portion of your home loan or the entire amount. You can pay a portion of your outstanding balance, and then continue with the same EMI.
Is loan settlement a good option?
The bank will settle the loan or close it for you if you cannot pay it in time. This has a negative effect on your creditworthiness, and your CIBIL rating will be drastically lowered. 02-Nov-2023
What is the procedure of loan settlement?
Debtors may have to settle their debts through a loan settlement procedure. Loan settlement is the process of paying off a loan before its scheduled term ends. It allows borrowers to pay off their debts earlier and save money on interest. 18-Jul-2023
As such we should properly check the documentation properly yes they might sue a case and it’s not a big deal to Over come it provided if we know accurate details of the case as such it is cross border transaction so plz contact to resolve at the earliest stage
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Understanding Debt Collection Harassment in the UAE:
- Debt Collection Laws: The UAE has specific laws and regulations governing debt collection practices. Debt collection agencies are required to adhere to these laws, which include guidelines to prevent harassment and ensure fair treatment of debtors.
- Types of Harassment: Harassment by debt collection agencies can take various forms, including frequent and aggressive phone calls, threats, intimidation, or disclosing the debtor's information to third parties. Such practices are generally prohibited.
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Steps to Address Debt Collection Harassment:
- Review Debt Details: Carefully review the details of your debt, including any agreements, payment history, and communication with the debt collection agency.
- Request Written Communication: You have the right to request that the debt collection agency communicates with you in writing rather than through phone calls. This can help create a record of their actions.
- Know Your Rights: Familiarize yourself with your rights as a debtor in the UAE. Debt collection agencies are not allowed to engage in abusive or illegal practices.
- File a Complaint: If you believe you are being harassed by a debt collection agency, you can file a complaint with relevant authorities in the UAE. In Dubai, for example, you can contact the Dubai Police or the Dubai Economy's Commercial Compliance & Consumer Protection (CCCP) department.
- Seek Legal Advice: Consult with a legal professional who specializes in debt collection issues in the UAE. They can provide guidance on your specific situation and help you understand your legal rights and options.
- Document Everything: Keep records of all communications with the debt collection agency, including dates, times, and content of phone calls or written correspondence.
- Debt Settlement: If you are willing and able to settle the debt, consider negotiating a settlement with the agency. This can sometimes lead to a more manageable resolution.
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Avoiding Unauthorized Debt Collection Agencies:
- Ensure that you are dealing with a legitimate and authorized debt collection agency in the UAE. Verify their credentials and registration to avoid falling victim to scams.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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