UAE Banks Use Immigration Ban
UAE banks use immigration ban.
UAE banks use immigration ban / Travel Ban also known as Visa ban in some countries in an attempt to recover their money. This article is for you if you are worried about a default with a bank or NBFC in UAE.
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What happens when you default on a loan or credit card in UAE.
This phenomenon is not restricted to the UAE only, in fact a practice all over the GCC. Once you have defaulted on a loan or credit card in UAE
- The banks will first try to contact your through mail and calls (for 2 months-3 months)
- Next, your account will be given to collection agencies call centers in the UAE to follow up. They will once again call and email you attempting to collect.
- After 8-12 months the security cheque is deposited as a result it is bounced.
- Once the cheque is bounced as a consequence there is criminal case and travel ban imposed against you.
- After 18 months of so, the banks will empanel international debt recovery agencies. These are mostly based out of
- India
- Pakistan
- Philippines
- Egypt
- Other countries also have agencies working for GCC banks, but very few as compared to the above countries.
- After this point there is nothing new that the bank will do. They will simply keep shuffling between the agencies and third parties. The third party agencies and call centers will try to contact you to make some kind of payments towards your liabilities.
UAE banks use immigration ban, And The ban can be lifted only in 2 scenarios,
- Payment of the liability directly to the UAE bank. Here we will negotiate with the bank on your behalf to get you the best possible settlement options.
- Payment of the fine, Which ranges between AED 2000 to AED 10000. In this scenario you will need to keep in mind that this amount is a fine and goes towards the court. None of this amount goes to the bank or towards your liability unless specified by the judge in the decree. As a result the liability will still be unsettled which means the bank can still come back with a civil case against you.
Although the second option is not a permanent one it does buy you time. You can use this time to get your finances in order, enter or exit the UAE, find other opportunities, enter or exit the UAE.
If you are not sure of your travel ban status we can check it for you simply click the below button to submit your documents. If you have any queries please click on the whats app button.
We do not provide service nor advice to simply pay the fine and close the case. This option will only temporarily resolve your problem. The banks can always come back with a civil suit or a PLA execution or another cheque bounce (if they have multiple cheques).
uae banks use immigration ban
