I lost my job in UAE loan not paid

This query is : Resolved 

16 June 2019

Dear Sir,
I have lost my job in UAE and my outstanding loan amount AED 120,000 not paid due to don�t have that much money, currently iam India.
Iam getting the calls from collection agent from India.
Please advise what will be consequence Iam going to face.
They can file any case against me. Now a days I can�t sleep in night.
I have little property in my name and wife name.( it is registered under both of our name) is there is any chance that they can take over the preperty.

Please prove me the detailed reply.


krishna mohan (Expert)
17 June 2019

Normally any loan taken is repayable irrespective of losing job. If you have copy of loan agreement, you can consult local lawyer to pursue one time settlement or take advise to pursue as per governing law for the same.

Dr J C Vashista (Expert)
17 June 2019

Discuss with the bank and make settlement before legal process starts, which is bound to recover through attachment of your property.

R.K Nanda (Expert)
18 June 2019

contact concerned bank officials to settle the matter as they can attach ur property.

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