Legal Question in Credit and Debt Law in United Arab Emirates

Sir,

I have more credit cards and loan the amount which i used for business, but now i have lost all my money in business and even i don't have any property own.

My salary around 7,000/-AED. But i have to to my credit card and loan minimum payment is 14,000/- monthly. I want to pay my liability without any legal action and travel ban. Please give me a good solution.

Thanking you


Asked on 7/02/10, 8:36 pm

1 Answer from Attorneys
Shaji Natarajan Salam Advocates & Legal Consultants

In your case, your only choice would be to approach the concerned Banks and request them to reschedule the installments, by increasing the number of installments, so that the monthly installment amounts get reduced.

For any further clarification, you may call on 00971 50 2104389

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Answered on 7/11/10, 9:46 am


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