what should i do with my loan?
i have a 90000 loan with a local bank,
i havea much better job offer in dubai,
i can and will pay them back with my dubai salary,
my employer is required to inform the bank if i leave the job.
how can the bank affect my future job prospects? can they ban me from future employment in the gcc? or blacklist me / get me arrested at gcc airports
should i ask for their permission - proactively tell them. will they understand the situation and cooperate and agree to be paid back in full within 2-3 months
or should i inform them - go and join employment in dubai, get my rp and then resign and tell them that i know i owe them money and will pay back fully within 2-3 months
how should i handle this?
please reply with your experiences on how banks deal with these kind of situations, which i am sure they must face many. please any bank employees please reply
You wont be able to get a UAE RP without cancelling the Qatar RP, but you cannot be kicked out of UAE for a Qatar loan, theres no such rule in GCC!
you wont be able to obtain your RP in UAE without cancelling your RP in Qatar. And in Qatar they won't cancel your RP without clearance from the bank.
Take a loan from friends, family, or a bank in your home country to relay the loan in Qatar, and then start your new job and pay off the new loan.
Trying to leave Doha without paying your loan will probably mean that you are eventually arrested in the UAE for being a defaulter.
how soon you guys jump to conclusions!!!
i said at the outset that i plan to and will settle my loan in full within max 2-3 months
and im not gonna get any huge end of service payout.
FYI there are some stingy local qatari firms that exploit and give piddly peanut salaries of 10000/pm even to engineers with MBA like me with post of BD Mgr in oil and gas !!!
thanks gypsy the idea of transfering the loan is good, i do have friends that trust me
Darude the max time i need to pay back is 2-3 months are you sure the bank will take 2-3 months to initiate the process and give me another 2 months to pay back? and are there any other repercussions to this? credit blacklist perhaps?
I WILL PAY!!!
happygolucky, I just mentioned one scenario (in some cases)
Not necessarily invest the loan in a business ...one can invest in a lifestyle also with the help of the loan...be it TV, car, Iphone or whatever...:)
LP, in some cases both are making profit. The bank will make it through the interest and the customer will invest the loan amount in business and make profit as well.
banks gives loans so tat they make profit out of it !
PS: The customers mistake is the banks profit !
Habibe pay what you owe or else they wil hold you here, promises are made to be broken so the bank will not adhere to it.
Settle your dues before you go, you should have planned this before starting to look for a new job within GCC.
Your current employer is obliged to inform the bank if you are rendering your resignation.
Guys if he is leaving the Oil & Gas Company without informing them how he is going to get his huge settlement.
i sold that now i use donkey cart you can have that happily no fuel consumptions you servicing no jack service no oil change. JUST GRASS once a day that will be hard to find in this desert
Da...I will swap it with your Lamborgini so the loan is on you...:P
Yes, it is wrong and unethical, but majority of them are doing that.
But if u inform the Company and officially if u resign then there is no chance of leaving the country.
so you better clear your Mclaren loan before leaving
ppl leave without settling their dues then they contact their bank after a year or 2 or 3 to check his account status once the customer clears that the bank will go back to the court and clear what ever was reported and lift the ban.
hms...just because 100s of people made the same mistake..its still its wrong!!
so many people will do like that, nowadays you will find less professional and unethical persons.
oh ok... thats so unprofessional and unethical...:(
do give ad in newspaper that our such and such employee is leaving so if you have any claims contact soon.
i wil contact and claim 90000
he should leave the country without informing the company that he is going for good, he should say he is going for emergency leave, that's all, but as Darude said he will traced down from wherever he is and will be thrown out of UAE also, if he is not settled his amount.
Darude...How is that possible... his company will inform the Bank that he resigned...
FOR SURE, YOUR CURRENT EMPLOYER WILL INTIMATE THE BANK THAT YOU ARE LEAVING AND ALL THE FINAL SETTLEMENT WILL BE ROUTED THROUGH YOUR BANK. UNTIL AND UNLESS YOU PAY OFF ALL YOUR DUES, I DON'T THINK YOU HAVE A OPTION.
just pack your bags and leave and with in 3 months contact the bank and pay up or be ready in 5th or 6th month to get kicked out of UAE.
Painther his profile is 1 yr old...:) maybe he is not that old in the company...lol
I like that word Chillam Chilli whatever that means..lol
kya yaar BD manager in OilnGas and 90K ke liye itni chillam-chilli :)
(English: settle it with your end of service benefits)
Maybe if you have a friend/relative who trusts you... you can transfer the laon to his name and you can settle it as soon as possible...
As it is, you got to pay up BEFORE you leave...you did not know that when you took a loan in the first place?
pay back your liabilities !
you won't be allowed to leave the country once your existing company inform bank about your resignation/termination.
The bank will automatically send a travel ban request to MOI which will be implemented.
The bank doesn't accept I will pay, I promise I would. blah blah.
Good Luck!!