Debt with bank loans, credit card and loan sharks

UAE Loans, Credit Cards Default, Bank Collection Harassment, Travel Ban, Cheque Bounce, Police Case Threats and Debt Consolidation Discussions.
scorpio
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Debt with bank loans, credit card and loan sharks

Unread post by scorpio » Sat Oct 20, 2018 9:21 pm

I am facing finance issues now and I dont know what to do. I think am already having an anxiety attacks.

I am having a salary of 6000AED only.
I have a personal loan from ADCB with 2513 AED as EMI. Maxed out my Rak Bank credit card and FGB card.  My FGB card is already in settlement but still i have late payments on both cards and missed payments as well.I have a cash advance from my company, so i have monthly deductions as well. On top of that I have borrowed from friends of friends to pay my monthly payments. Giving them a check as guarantee, like a private or indivual lender.I am now facing a point that I am no longer capable of paying. My FGB though in settlemet, is delayed for almost 4 months, my Rakbank is overlimit and is delayed for 2 months.
Am scared when the banks and these private lenders will encash my cheques.  I am looking for a consolidation loan but my DBR is too high, and have a bad bureau. 
A friend who referred me to a loan shark keeps on calling and messaging me. She is threatened by the loan shark to cash out my cheque. Also threatened to go to my office.Am really scared and have these feelings that anyone who entered in our office is a policeman or this loan shark. I have skip from going to work already.

I hope you can give me an advice as I dont know what to do.

Thanks,

Scorpio
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Dontyouworry
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Re: Debt with bank loans, credit card and loan sharks

Unread post by Dontyouworry » Sat Oct 20, 2018 11:58 pm

scorpio wrote:
Sat Oct 20, 2018 9:21 pm
I am facing finance issues now and I dont know what to do. I think am already having an anxiety attacks.

I am having a salary of 6000AED only.
I have a personal loan from ADCB with 2513 AED as EMI. Maxed out my Rak Bank credit card and FGB card.  My FGB card is already in settlement but still i have late payments on both cards and missed payments as well.I have a cash advance from my company, so i have monthly deductions as well. On top of that I have borrowed from friends of friends to pay my monthly payments. Giving them a check as guarantee, like a private or indivual lender.I am now facing a point that I am no longer capable of paying. My FGB though in settlemet, is delayed for almost 4 months, my Rakbank is overlimit and is delayed for 2 months.
Am scared when the banks and these private lenders will encash my cheques.  I am looking for a consolidation loan but my DBR is too high, and have a bad bureau. 
A friend who referred me to a loan shark keeps on calling and messaging me. She is threatened by the loan shark to cash out my cheque. Also threatened to go to my office.Am really scared and have these feelings that anyone who entered in our office is a policeman or this loan shark. I have skip from going to work already.

I hope you can give me an advice as I dont know what to do.

Thanks,

Scorpio
The salary what you have mentioned must only have gotten into liability of not a very huge amount and you should never add up your liabilities from all the banks you have and to consider it as one. Every individual Loan or Credit Card you have has its own separate outcome and when you look into each of them, it must not be a huge amount, until you become capable enough to pay all of those you dont have to be agitated, if the banks has something to do to you on a worst case scenario then it is going to be the bouncing of your cheque and filing a case of cheque dishonor. You then have to face it as mostly it will only be a court fine as judgement subject to the Emirate and all you have to worry is about having some funds left with you to pay the court fine and close the case.
If you have issued your personal cheque to any individual (Loan Shark) other than the bank then you make sure to settle it amicably with the individual as any personal cheque bounce might get you a jail sentence rather than being a fine. Try paying any small amount atleast to the individual to hwom you have issued a personal cheque to avoid these unforeseen consequences.
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Re: Debt with bank loans, credit card and loan sharks

Unread post by Guest » Mon Oct 22, 2018 9:08 pm

Hi,

Someone from FGB called couple times today but i didn't answer. They sent email to pay today before 1pm but since i dont have anything to pay I didnt.

They sent email to the HR dept today and asked for help for a contact number for them to reach me.

I think they will file me a case one of these days.

Should i answer their call? Should i wait for the police to call me? How would i know now if theres a case filed against me.
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Dontyouworry
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Re: Debt with bank loans, credit card and loan sharks

Unread post by Dontyouworry » Mon Oct 22, 2018 10:35 pm

Guest wrote:
Mon Oct 22, 2018 9:08 pm
Hi,

Someone from FGB called couple times today but i didn't answer. They sent email to pay today before 1pm but since i dont have anything to pay I didnt.

They sent email to the HR dept today and asked for help for a contact number for them to reach me.

I think they will file me a case one of these days.

Should i answer their call? Should i wait for the police to call me? How would i know now if theres a case filed against me.
There is no point you talking to the bank unless and until you are going to pay them and they would only want to hear that from you, if you have plans of any other conversation with them then forget it, that is nowhere going to be in your favor. Just wait for the call from Police Station and once filed they would definitely call you, if you are not sure that you missed the call or if you do not have the phone number now with you which was provided to the bank when you availed the liability then you can check on the Dubai Police app or website https://www.dubaipolice.gov.ae/wps/portal/home to find out if you have any case/cases in Dubai, to find out if you have case filed anywhere in the UAE and if you have a travel ban then you need to have a case check done through any Attorney/Lawyer.
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restituto
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Re: Debt with bank loans, credit card and loan sharks

Unread post by restituto » Thu Oct 25, 2018 7:39 pm

scorpio wrote:
Sat Oct 20, 2018 9:21 pm
I am facing finance issues now and I dont know what to do. I think am already having an anxiety attacks.

I am having a salary of 6000AED only.
I have a personal loan from ADCB with 2513 AED as EMI. Maxed out my Rak Bank credit card and FGB card.  My FGB card is already in settlement but still i have late payments on both cards and missed payments as well.I have a cash advance from my company, so i have monthly deductions as well. On top of that I have borrowed from friends of friends to pay my monthly payments. Giving them a check as guarantee, like a private or indivual lender.I am now facing a point that I am no longer capable of paying. My FGB though in settlemet, is delayed for almost 4 months, my Rakbank is overlimit and is delayed for 2 months.
Am scared when the banks and these private lenders will encash my cheques.  I am looking for a consolidation loan but my DBR is too high, and have a bad bureau. 
A friend who referred me to a loan shark keeps on calling and messaging me. She is threatened by the loan shark to cash out my cheque. Also threatened to go to my office.Am really scared and have these feelings that anyone who entered in our office is a policeman or this loan shark. I have skip from going to work already.

I hope you can give me an advice as I dont know what to do.

Thanks,

Scorpio
Get your final salary and run away. Do not tell any of your friends
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sakurarakusa
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Re: Debt with bank loans, credit card and loan sharks

Unread post by sakurarakusa » Wed Nov 20, 2019 11:15 pm

My Brother owe a money to a loan shark amounting of AED12,000 and he issue a guaranteed cheque amounting to AED6,000, now my brother lost his job and not able to pay the principle amount although he already paid 6k for the interest. Now the loan shark harassing and threaten my brother that he will encash the cheque and if it bounces he will go to jail. My question is, paying a fine is also applicable for this? Thank you in advance:)
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Dontyouworry
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Re: Debt with bank loans, credit card and loan sharks

Unread post by Dontyouworry » Thu Nov 21, 2019 10:22 pm

sakurarakusa wrote:
Wed Nov 20, 2019 11:15 pm
My Brother owe a money to a loan shark amounting of AED12,000 and he issue a guaranteed cheque amounting to AED6,000, now my brother lost his job and not able to pay the principle amount although he already paid 6k for the interest. Now the loan shark harassing and threaten my brother that he will encash the cheque and if it bounces he will go to jail. My question is, paying a fine is also applicable for this? Thank you in advance:)
If the loan shark you are talking about is not a bank or financial institution but an individual then if he/she files a case by bouncing the cheque, it is definitely going to be a jail sentence if the full amount is not paid. Any cheque bounce claimed by an individual will get the defendant behind bars and it is not same as how it for the banks.
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sakurarakusa
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Re: Debt with bank loans, credit card and loan sharks

Unread post by sakurarakusa » Sun Nov 24, 2019 4:23 pm

Dontyouworry wrote:
Thu Nov 21, 2019 10:22 pm
sakurarakusa wrote:
Wed Nov 20, 2019 11:15 pm
My Brother owe a money to a loan shark amounting of AED12,000 and he issue a guaranteed cheque amounting to AED6,000, now my brother lost his job and not able to pay the principle amount although he already paid 6k for the interest. Now the loan shark harassing and threaten my brother that he will encash the cheque and if it bounces he will go to jail. My question is, paying a fine is also applicable for this? Thank you in advance:)
If the loan shark you are talking about is not a bank or financial institution but an individual then if he/she files a case by bouncing the cheque, it is definitely going to be a jail sentence if the full amount is not paid. Any cheque bounce claimed by an individual will get the defendant behind bars and it is not same as how it for the banks.
Then, what are the consequences a side from getting in jail? And how long? Can we also file a case against the loan shark for handling the passport of my brother? Because that’s the reason why he can’t get the job because he have his passport.
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spcindxb
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Re: Debt with bank loans, credit card and loan sharks

Unread post by spcindxb » Sun Nov 24, 2019 6:45 pm

In June this year...a friend got arrested for a bounced rent cheque...he was taken to Barsha Police Station and given a paper to come for a hearing after 10 days.....on the D day...he was asked can u pay this x amount fine...he said he would...he was let go after paying the fine...the cheque was not written to a bank neither a financial institution....
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spcindxb
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Re: Debt with bank loans, credit card and loan sharks

Unread post by spcindxb » Sun Nov 24, 2019 8:00 pm

Also according to my knowledge it is illegal to keep anyone else's passport...he has committed an offence by keeping another persons passport...he is breaking the law
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