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Credit Card Problem (from HSBC, UAE)

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  • Credit Card Problem (from HSBC, UAE)

    Hi,


    I used to live in the UAE until early 2013 (since 2003). Had two credit cards from HSBC with debt amounting to AED 130,000. I had been let-go from work and could not keep up with payments.

    There is no security cheque.

    Bank is after me day and night, with no mercy. Although, I had a very clean record with the bank for the past 10 years, but this is all past and now they are after their money.

    If, God forbids, I wont find a job for longer time, what the consequences would be?

    Advice please.

  • #2
    re: Credit Card Problem (from HSBC, UAE)

    I wish to inform you that you can have a warrant issued in UAE which can be exercised in whole of GCC countries. Countries outside GCC can also arrest you if there is some extradition treaty with UAE. Generally default in credit card involves arrest and sentence in UAE. You may thus discuss with the bank about settlement of amount or alternatively shift to a country where you may not be arrested.

    AFF

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    • #3
      re: Credit Card Problem (from HSBC, UAE)

      can u tell me what are the other countries than GCC where there is possibility to get arrest if the warrent is issued in UAE/GCC?

      and also do we get any kind of notice from UAE/GCC regarding warrent on our permenant address

      Comment


      • #4
        Re: Credit Card Problem (from HSBC, UAE)

        I wish to know the difference between credit card and debit card

        Comment


        • #5
          Re: Credit Card Problem (from HSBC, UAE)

          Originally posted by William Martin View Post
          I wish to know the difference between credit card and debit card
          Off topic for this thread but...

          A credit card is basically an unsecured advance of credit for purchase of goods and services. A debit card is a transfer of money from one account to another.
          Due to a recent promotion, I should now be referred to as Major Obvious.

          I would not be trying to provide information and knowledge if I did not sympathize.

          Some days it is just not worth chewing through the restraints to face life.

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