Illustration by Mathew Kurian
Illustration by Mathew Kurian
Illustration by Mathew Kurian
Illustration by Mathew Kurian

The Debt Panel: 'I left the UAE without paying Dh170,000 in loans but the banks won’t help me return'


Alice Haine
  • English
  • Arabic

I returned home to South Africa in February 2015 after being forced to leave Dubai by my former employer when my contract was terminated. At the time I was earning Dh15,000. I am trying to resolve my debt situation (I owe Dh170,000) from here but it seems that when a person leaves debt behind it is automatically assumed that he/she absconded and the banks refuses to negotiate an amicable solution. I base this observation from the reply I received from a well-known law firm when I asked for legal help. They advised me that my only option was to proceed with a settlement. I have now written to the chief executive of the bank concerned and to the bank's customer care department, asking why the bank pursues such a relentless and non negotiable approach towards customers that default on outstanding debt. I have tried to get the bank to drop the legal case against me as by doing so it would allow me to secure a work permit and enter the UAE to repay my outstanding liabilities. I even secured a job in the UAE at one point with a good salary of Dh20,000 and the company's HR manager contacted the bank's collections department to negotiate with them but the bank refused. I have been unemployed for two-and-a-half years as a result of this. From being in a position to repay to having zero prospects, what are my options now? SS, South Africa

Debt panellist 1: Kunal Malani, head of customer value management at HSBC

Whenever circumstances change, for example income reduction or loss of employment, it is best to contact your creditors immediately to discuss your situation and together work on suitable repayment arrangements.  If not addressed in a timely fashion, late charges can accumulate and the account can move into default with the balance due in full. As you are aware, this then leads to some undesirable consequences.

You have made the right decision to contact your lender and proactively work towards a resolution.  It is in the best interest of both parties to reach a positive outcome.  Remember to communicate your intent to repay the obligation and always be transparent about your financial circumstances to reach the right arrangement, for example, provide the lender with all necessary documentation to evidence your financial situation. If you are unable to agree on a repayment solution at this time, you can also consider finding a job in your current location to save and repay your loan and improve your overall financial situation.

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Read more:

The Debt Panel: Microbiologist borrowed Dh125,000 to salvage his wife's failing business

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Debt panellist 2: Keren Bobker, an independent financial adviser with Holborn Assets

I am pleased to see that SS wants to do the right thing by repaying the debt. I am aware that banks are frequently not particularly helpful if a customer has left the UAE with debts. This is largely due to the fact that every year large numbers of people leave without paying back what they have borrowed, and without any intention of doing so, which leads to banks being suspicious and expecting the worse. As far as they are concerned, SS left without repaying and, depending on the credit agreement, may even be in breach of the terms signed when taking out the loan or credit card simply by no longer being in employment here.

I assume that SS has not been making regular payments since leaving the UAE. Assuming SS has not, she will find the bank less amenable than if she had been making the contractual payments. If three or more payments are missed, whether someone is in the UAE or not, the bank has the right to register a police case for non-payment of debt. This can lead to imprisonment and certainly arrest on re-entering the UAE.

Assuming no payments have been made since leaving, I am not surprised the bank is requesting settlement of the debt and this will again be in accordance with the terms.

Unless at least part of the outstanding debt is settled, no bank will withdraw a police case. A customer who is in debt must show willingness by making a payment as they are the one who has breached the terms of the agreement. I would not expect any bank here to be particularly helpful on the basis of a job offer alone. Whilst SS feels the bank is acting unfairly, she has missed payments so they will argue that she is the one who needs to take the first step.

Whilst SS intends to pay the debt once she has a job, it is currently a “chicken and egg” situation and she cannot re-enter without having reduced the amount outstanding at the very least. If she does not have the funds to do this, or any assets to sell, then returning to the UAE will not be an option and she will need to find employment in another country. This would allow her to recommence payments and reduce down the debt, thus placing her in a stronger position to negotiate at a later date.

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Read more:

The Debt Panel: British couple struggling to shift 'niggly' Dh80,000 credit card debt

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Debt panellist 3: Michael Routledge, the founder of the debt advice site savememoney.ae

You are correct in thinking that the banks will treat your case no differently than any other ‘absconding’ case, however it is surprising they will not negotiate with you as they really have everything to gain if you are allowed to return to Dubai to work and service the debt.

If the banks are unwilling to discuss repayment options with you it may be worthwhile speaking to a third party that has relationships with the banks you currently have debt with. This service comes with a fee, however it may be money well spent if it can resolve your case. My website does not affiliate with any of the UAE’s debt management firms, however I have spent time with Gaurav Bhalla, chief executive of Lotus Loans and Reschedule Services, who has had success helping people with debt issues.

If you can find a job in South Africa and are successful in arranging a repayment plan then it would be a good idea to start making payments from South Africa, assuming you want to come back to Dubai at some point in the future. This should go some way to improving your relationship with your lenders and hopefully they will agree to remove any police cases they’ve opened against you in time.

Should you decide to come back to Dubai I’d make sure you have confirmation in writing from all lenders that they have no current police cases open against you.

On this panel this week: Kunal Malani, head of customer value management, UAE and Mena at HSBC Middle East; Keren Bobker, an independent financial adviser with Holborn Assets and Michael Routledge, the founder of the debt advice site savememoney.ae.

The Debt Panel is a weekly online column to help readers tackle their debts more effectively. If you have a question for the panel, write to pf@thenational.ae.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

Barings Bank

 Barings, one of Britain’s oldest investment banks, was
founded in 1762 and operated for 233 years before it went bust after a trading
scandal. 

Barings Bank collapsed in February 1995 following colossal
losses caused by rogue trader Nick Lesson. 

Leeson gambled more than $1 billion in speculative trades,
wiping out the venerable merchant bank’s cash reserves.  

'Jurassic%20World%20Dominion'
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Recipe

Garlicky shrimp in olive oil
Gambas Al Ajillo

Preparation time: 5 to 10 minutes

Cooking time: 5 minutes

Serves 4

Ingredients

180ml extra virgin olive oil; 4 to 5 large cloves of garlic, minced or pureed (or 3 to 4 garlic scapes, roughly chopped); 1 or 2 small hot red chillies, dried (or ¼ teaspoon dried red chilli flakes); 400g raw prawns, deveined, heads removed and tails left intact; a generous splash of sweet chilli vinegar; sea salt flakes for seasoning; a small handful of fresh flat-leaf parsley, roughly chopped

Method

Heat the oil in a terracotta dish or frying pan. Once the oil is sizzling hot, add the garlic and chilli, stirring continuously for about 10 seconds until golden and aromatic.

Add a splash of sweet chilli vinegar and as it vigorously simmers, releasing perfumed aromas, add the prawns and cook, stirring a few times.

Once the prawns turn pink, after 1 or 2 minutes of cooking,  remove from the heat and season with sea salt flakes.

Once the prawns are cool enough to eat, scatter with parsley and serve with small forks or toothpicks as the perfect sharing starter. Finish off with crusty bread to soak up all that flavour-infused olive oil.

 

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.

Brolliology: A History of the Umbrella in Life and Literature
By Marion Rankine
Melville House

CHATGPT%20ENTERPRISE%20FEATURES
%3Cp%3E%E2%80%A2%20Enterprise-grade%20security%20and%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Unlimited%20higher-speed%20GPT-4%20access%20with%20no%20caps%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Longer%20context%20windows%20for%20processing%20longer%20inputs%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Advanced%20data%20analysis%20capabilities%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customisation%20options%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shareable%20chat%20templates%20that%20companies%20can%20use%20to%20collaborate%20and%20build%20common%20workflows%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Analytics%20dashboard%20for%20usage%20insights%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Free%20credits%20to%20use%20OpenAI%20APIs%20to%20extend%20OpenAI%20into%20a%20fully-custom%20solution%20for%20enterprises%3C%2Fp%3E%0A
The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

WISH
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Chris%20Buck%2C%20Fawn%20Veerasunthorn%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Ariana%20DeBose%2C%20Chris%20Pine%2C%20Alan%20Tudyk%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
How to volunteer

The UAE volunteers campaign can be reached at www.volunteers.ae , or by calling 800-VOLAE (80086523), or emailing info@volunteers.ae.

Company profile

Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The%20Afghan%20connection
%3Cp%3EThe%20influx%20of%20talented%20young%20Afghan%20players%20to%20UAE%20cricket%20could%20have%20a%20big%20impact%20on%20the%20fortunes%20of%20both%20countries.%20Here%20are%20three%20Emirates-based%20players%20to%20watch%20out%20for.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EHassan%20Khan%20Eisakhil%3C%2Fstrong%3E%0D%3Cbr%3EMohammed%20Nabi%20is%20still%20proving%20his%20worth%20at%20the%20top%20level%20but%20there%20is%20another%20reason%20he%20is%20raging%20against%20the%20idea%20of%20retirement.%20If%20the%20allrounder%20hangs%20on%20a%20little%20bit%20longer%2C%20he%20might%20be%20able%20to%20play%20in%20the%20same%20team%20as%20his%20son%2C%20Hassan%20Khan.%20The%20family%20live%20in%20Ajman%20and%20train%20in%20Sharjah.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EMasood%20Gurbaz%3C%2Fstrong%3E%0D%3Cbr%3EThe%20opening%20batter%2C%20who%20trains%20at%20Sharjah%20Cricket%20Academy%2C%20is%20another%20player%20who%20is%20a%20part%20of%20a%20famous%20family.%20His%20brother%2C%20Rahmanullah%2C%20was%20an%20IPL%20winner%20with%20Kolkata%20Knight%20Riders%2C%20and%20opens%20the%20batting%20with%20distinction%20for%20Afghanistan.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EOmid%20Rahman%3C%2Fstrong%3E%0D%3Cbr%3EThe%20fast%20bowler%20became%20a%20pioneer%20earlier%20this%20year%20when%20he%20became%20the%20first%20Afghan%20to%20represent%20the%20UAE.%20He%20showed%20great%20promise%20in%20doing%20so%2C%20too%2C%20playing%20a%20key%20role%20in%20the%20senior%20team%E2%80%99s%20qualification%20for%20the%20Asia%20Cup%20in%20Muscat%20recently.%0D%3Cbr%3E%3C%2Fp%3E%0A
Afghanistan Premier League - at a glance

Venue: Sharjah Cricket Stadium

Fixtures:

Tue, Oct 16, 8pm: Kandahar Knights v Kabul Zwanan; Wed, Oct 17, 4pm: Balkh Legends v Nangarhar Leopards; 8pm: Kandahar Knights v Paktia Panthers; Thu, Oct 18, 4pm: Balkh Legends v Kandahar Knights; 8pm: Kabul Zwanan v Paktia Panthers; Fri, Oct 19, 8pm: First semi-final; Sat, Oct 20, 8pm: Second semi-final; Sun, Oct 21, 8pm: final

Table:

1. Balkh Legends 6 5 1 10

2. Paktia Panthers 6 4 2 8

3. Kabul Zwanan 6 3 3 6

4. Nagarhar Leopards 7 2 5 4

5. Kandahar Knights 5 1 4 2

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

The stats: 2017 Jaguar XJ

Price, base / as tested Dh326,700 / Dh342,700

Engine 3.0L V6

Transmission Eight-speed automatic

Power 340hp @ 6,000pm

Torque 450Nm @ 3,500rpm

Fuel economy, combined 9.1L / 100km

Stan%20Lee
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20David%20Gelb%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ESingle%20front-axle%20electric%20motor%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E218hp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E330Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%3Cbr%3E%3Cstrong%3EMax%20touring%20range%3A%20%3C%2Fstrong%3E402km%20(claimed)%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh215%2C000%20(estimate)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ESeptember%3C%2Fp%3E%0A
Tips for avoiding trouble online
  • Do not post incorrect information and beware of fake news
  • Do not publish or repost racist or hate speech, yours or anyone else’s
  • Do not incite violence and be careful how to phrase what you want to say
  • Do not defame anyone. Have a difference of opinion with someone? Don’t attack them on social media
  • Do not forget your children and monitor their online activities
if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg