Dear mariam perhaps u didnt read my post. Plz read the FYI section again and again until u understand the last word of it.
Wolfman,
Guarantor is used as a additional security.
Which means in case the person who has take the loan defaults on his payment, the guarantor has to pay on his behalf. I said to get a guarantor just for assurance to the bank that this guy wont default in his future payments. In between he has to pay his monthly payment on his own or the guarantor will be penalized. And yes a guarantor will ensure u wont end up in jail(Depends case to case but most of the time u r safe). Any property possesed by a individual outside Qatar wont be accepted as a mortguage or security because it does not fall in Qatars judristriction which does not allow any bank in qatar the rights to liquidify the said property (this too depends on the severity of the case). The loan contract is signed under the laws of Qatar.
The best option u have in this case is Mortguage the Property back in your home country bring the money here and pay ur debts.
But in the above case the Guy can just liquidify the property and pay his debts here and save him self.
"The strenght of a man can only be measured by his ablity to forgive"
Dear mariam perhaps u didnt read my post. Plz read the FYI section again and again until u understand the last word of it.
Wolfman,
Guarantor is used as a additional security.
Which means in case the person who has take the loan defaults on his payment, the guarantor has to pay on his behalf. I said to get a guarantor just for assurance to the bank that this guy wont default in his future payments. In between he has to pay his monthly payment on his own or the guarantor will be penalized. And yes a guarantor will ensure u wont end up in jail(Depends case to case but most of the time u r safe). Any property possesed by a individual outside Qatar wont be accepted as a mortguage or security because it does not fall in Qatars judristriction which does not allow any bank in qatar the rights to liquidify the said property (this too depends on the severity of the case). The loan contract is signed under the laws of Qatar.
The best option u have in this case is Mortguage the Property back in your home country bring the money here and pay ur debts.
But in the above case the Guy can just liquidify the property and pay his debts here and save him self.
"The strenght of a man can only be measured by his ablity to forgive"
~~Adios~~