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What Happens To A Expat In UAE Who Have Taken Loan From Any Bank In Ae? |
I fair spoke to an abc bank agent in dubai. I was looking for Personal loan. The bank representative told me that i cannot leave the country until the loan is cleared. They will take letter from company who needs to put the finger on the bank imm. upon my resignation/termination.
I am confused, as why one cannot leave the country as he / she can continue paying the accommodation from abroad? What steps they take to stop you leaving the nation? Is it same for holding credit cards?
| Answer: As extended as the loan is repaid regularly, there may not be problem in travelling out of the country. If there is an overdue, and bank has initiated rise process; they may obtain a restraining order against the debtor. In such a case, the debtor cannot treks out of the country. In fact the debtor cannot cross the immigration. So even if the debtor in coming into the realm from outside, she or he would be caught. Since most of personal loans are granted against salary and end or service benefits; which may be assigned to a bank; the advance would not be allowed to be continued to be settled once job is terminated. Best Wishes and Warm Regards, Karpaka Rajan. V Chettiar, |
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