Former UAE resident has outstanding debt with HSBC, but can he return to the country?
I no longer live in the UAE, but I have an outstanding personal loan with HSBC. I left seven months ago, and a problem with a non-paying tenant left me short of money and I am behind on the loan repayments. Before I left, the loan was reduced by my end-of-service gratuity and I have every intention of repaying the loan in full. As I may need to travel via the UAE, I would like to know if the bank has taken any action in view of the missing payments, or if I will be OK to enter the UAE. PR, Hong Kong
I referred the details to my contacts at HSBC, who duly investigated. Within a few days he was contacted to confirm that the bank has not taken any action against him and that there are no restrictions on him entering the UAE. He is also making arrangements to get up to date with the loan repayments.
Keren Bobker is an independent financial adviser with Holborn Assets in Dubai. Contact her at email@example.com
The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek appropriate independent legal advice.
Follow us on Twitter @Ind_Insights
Published: May 25, 2014 04:00 AM