UAE loan defaulters in India.
UAE loan defaulters in India
UAE loan defaulters in India are the highest followed by the Philippines and Pakistan. Majority of the expats in UAE are from these countries as a result the defaulters are concentrated in these countries. There are many misconceptions and myths that are prevalent in the UAE expat community which we will try to clarify here.
If you dont find your answers here or would like to have a word with your dedicated advisor simply click here to book your first complimentary consultation.
Can I clear a cheque bounce case in the UAE by simply paying the fine?
Yes, you can as long as the cheque amount is less than AED 2,00,000. The fine ranges between AED 2000 to AED 10,000.
This solution is more of a band aid rather than a permanent fix. The bank can always bounce another cheque if they have another one. If they are sure you are in the country and capable of paying they will go ahead with a civil case as well. Hence paying the fine against the criminal case is a temporary fix. We always suggest you to close the liability instead of paying the fine.
Can UAE loan defaulters in India pay the fine amount from India?
There are lawyers and agents that claim to do this on your behalf, but these are few and far in between. We suggest if you have family or friends who can do this on your behalf or appoint someone. Use them instead of an unknown lawyer or agent. There are several cases where the lawyer or agent will simply stop responding. Hence we cannot stress enough on doing due diligence before giving any money.
Can I travel to other GCC countries if I have a pending liability in the UAE?
There is no clear answer to this query, but most people may not find a GCC wide travel ban against them. Bank’s manually select accounts for which a GCC wide travel ban is requested. This selection is based on multiple factors, for example the type of product, the pending outstanding, your profile etc. Also if they are aware that you have relocated to a country other than your home country. Even if you are transiting through UAE or GCC and have a travel ban you will be held.
If I take a discount to close any liability in the UAE does it effect my chances to get new loans?
Yes once you have defaulted it will take a toll on your Etihad credit score. Now the only way to fix it is to pay in full. It will take a minimum of 2 years of on time payments for your credit score to get back to normal. Until your credit score has not come back to normal there will be very few or close to zero options for your to get credit of any sort.
For UAE loan defaulters in India what are the possible issues they can face?
There are multiple steps that the banks take to recover the liability amount from you for which you can click here. And to book your first complimentary consultation click here. The only way that they can legally take any action against you is if,
- They file a civil suit against you.
- Get a decree (judgment) in their favor with a sentence of over 6 months.
- Submit the same to interpol requesting action.
- Interpol in turn gets the appropriate a court in your country to enforce the sentence and extradite or attach your assets.
All of this is time and labor intensive and also an expense to the banks. Because of this reason the banks do not pursue a case across borders. Hence a majority of the people who have defaulted in UAE and now living in another country are safe from any kind of prosecution.
