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How to initiate settlement of bank loan in UAE
19-Feb-2023 (In Cheque Bounce Law)
Hi I took a personal finance from an Islamic bank in UAE, due a severe health issues and family emergency I came back to India... After coming back to India I sent an email to bank for loan settlement as I don't have a mind of going back, I followed up many times but the bank did not reply back. My question to you is will i face any problem from bank or debt collector's now or in future, please advise and also am planning to settle down if there is any problem.
f the bank has registered a case with the police then there is a good chance that the information has been passed to the Department of Immigration in all the emirates, and if AO tries to enter the country he would be arrested for unpaid debts. The quickest way of checking is to contact the bank directly and ask them if they have taken action. It is also possible to ask a friend living in the UAE to go to the main police station in the relevant emirate to find out if a case has been registered against AO. They will need a copy of the passport, and ideally a letter of authority, to inquire if there are any cases or complaints registered. They will not be told details, just if there are any cases on file. Once a case has been registered in respect of a debt, a bank is not likely to retract the case until the debt has been repaid, or at least until the majority has been paid back and the remainder is being paid off. The bank will be able to advise on the total outstanding, then AO should arrange to repay the money that he owes
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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