personal loan and lost job w/ no relase

Tnx typhoon.....im just praying i will get NOC.So the issues for insurance is out of the topic already.Is anybody there who has the knowledge about insurance.my Question is why does the bank approve any loans amounted 5 yrs more than my salary?what assurance they will hold that the borrower can pay in which our work is contractual thinking this where the insurance is coming to the picture.The bank will not squeeze the person who think can't pay because not having any job?I'm thinking why the bank also take risk to give any big loan to a borrower without any sure assurance that they can pay aside for having a monthly salary and end of service benefits.What about for those people who take vacation and never comeback to Qatar?what will happen to there loan?who will shoulder in paying this?this is worst than the borrower lost job and they will get the end of service award.This is a big question to me?

yeah makes sense and in doing so you are giving the sponsor a tough time to make a decision and either he settles the loan himself or gives you a release to work somewhere else and settle it

What I have noticed in this places is that doing a honest job, trying to go straight, dedication, etc does not get you anywhere. In fact the guys who lie, cheat, deceive and only make a lot of noise when the big boss is around get ahead and sometimes are even made managers so it would be wise to cover yourself for any and all eventualities. The loan amount should be always higher the the pending salary balance and the graturity combined

Will your Gratuity not cover the loan?

tnx good old joe.somebody told me that also one of my mandub friend.Taking loan is giving me assurance that can be be release from my previous company.My RP is just renew for 1 year more.If my company will not give NOC what they will do to me?still they are the one responsible for me.

Well it is not your work out here that matters but how you go about your other things, taking a big loan for example is an insurance in itself that the sponsor cannot cancel your visa and kick you out. If your current sponsor is not going to give you a NOC then just let the bank and your sponsor settle the matter between themselves. The higher the loan the more interesting is the situation

tnx alexam.i need to go to the bank and negotiate and bring my termination letter and listen what i need to do.if there is really no insurance for lost jobs then i should put my attention on getting NOC.thanks for all the advised guys

Patience there's no guarantee that your company will give you NOC. It is their sole discretion. Only you can try and explain your situation. I don't think there is an insurance to cover job loss. My own friend was jailed for non-payment of his bank loan. But lucky for him he got NOC and found another low paying job to continue to pay his obligations.

thnx nikon im not telling we are not in good terms with my employer.is there no chance for the court to give them order to give me NOC to work in other company so i can continue paying the bank.im just hoping that they will give me NOC because there is compny willing to hire me already im just not sure to get an NOC.im just thinking what if they will not give me an NOC and i cant go out qatar how i will leave here in doha.Im willing to pay and work.is there any other way.

making any kind of loan in the bank, they said to be your assurance that you will not be deported here in the country. it is now a common tactics by the employees to loan in the bank for personal interests, they want to work or let us say to be stable here in qatar for a long time. your company will have no choice but to release you that if you have in good terms with your company. in my two cents, in your case that your employer is not willing to give you a NOC, there is something misunderstanding or dispute going on with you and your employer. and that's a different story now if in that case. we are invisibly handcuffed by our sponsor here for all we knew. we cannot easily do what we want to do here. so go on to the flow with the system of your company. all of this is just my two cents. good luck bro.

http://qatarliving.com/node/6201601

if not cover so there is no chance for me to go out qatar.the best way is to negotiate to my employer to give release so that i can work again and continue paying to the bank.Like this do i have a better chance to get release from my company even they told me that they will not give release>

Are you looking for the insurance after termination? Insurance will not cover job loss.

thanks Gonsalves85.meaning there is chance that my company will still relase me if they don't give before?are you sure that insurance is only for death?not include the termination from work?So there is no chance for me to go out of qatar if there is no insurance.because somebody told me that termination from work is included in the insurance.

There is insurance but it applies on death only. So you have to find a job. If the company where you find already is in approved list, no need to worry. Just present the offer letter & a letter from the company ( new) that your visa is under process. On receipt of letter, please approach your branch. If you don't find a suitable job & want travel ban so that you can find a suitable job, please make sure that you give guarantee cheques against your loan to bank so they will do the rest. If you already given cheque & needs a clearance letter without payment of money, you need a good guarantor!!!