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credit card debt negotiation in uae

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  • credit card debt negotiation in uae

    I HAVE CREDIT CARD LOAN AED 28000 (20K + 8 K)(PRINCIPAL AMOUNT) IN 2 BANKS IN UAE. I LEFT UAE IN 2009 AND I AM PLANNING TO PAYBACK THE DUES.IS IT POSSIBLE TO NEGOTIATE WITH THE BANK TO PAY ONLY THE PRINCIPAL AMOUNT WITHOUT ANY INTEREST IN 1 SHOT. KINDLY HELP ME.

  • #2
    Re: credit card debt negotiation in uae

    I wish to inform you that if you have left UAE without clearing your credit card debt in 2009, it is possible that the bank has presented your security check and in case of default has reported the matter to law enforcement agencies. It is also possible that the court had already issued an arrest warrant. However, if the court has still not awarded punishment then you may get in contact with the bank authorities and try and settle the matter. UAE is considering a new law regarding settlement of default in credit card payments and if you offer to pay back the principal in one go, it is a good start point to negotiate the settlement.

    AFF

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    • #3
      Re: credit card debt negotiation in uae

      whether i will be arrested by police even after settling my dues and what is the procedure to settle the credit card payment in Dubai and get rid off it.

      i am very depressed and i have arranged some amount t settle my dues.The fact i wanna know the rit channel 2 settle it.


      Note : How does the bank negotiate generally with the interest on the principal amount ?

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