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  1. #1
    Join Date
    Feb 2021
    Texas Corpus Christi
    Member #
    3 times

    Business loan and credit card default in UAE

    I have 2 business loan in uae (200,000 and 60,000)(1st one i paid 2 years (emi 6400), 2nd i paid 1 year (emi 1900) and credit card 25,000 personal and 25000 business credit card (both cards minimum payment we were paying since 2 years without any default). now i am facing problem to repay since my business is not running good.
    i have defaulted 2 payments, and debt collectors are calling us and threatening that they will put me and my husband (who is guarantor for my loan) behind the bars .we have 3 kids studying here, they have bounced the guarantee cheque.
    so i am in big tension , we don't know what to do, please help.
    we still dont they have filed case or not.
    we need to continue here in uae.
    please help us to sort out the issue, we are in serious hard ship.

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  3. #2
    Join Date
    Feb 2021
    England Maidenhead
    Member #
    0 times
    How have you got out of this situation? I have a similar problem, and I am in a terrible panic right now. Someone said I would go to jail for 100% as there is no other way to solve this situation. My brother told me to be cautious with my business loans in UAE as their rules and laws are stringent. I didn't listen to him, and I got three loans for more than 400.000 dollars. He advised me to take those loans from as they gave him an outstanding loan for some special conditions. Well, I didn't listen to him once again.



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