Question

Being pursued by Judge & Priestley LLP for debts from Emirates NBD.
I returned to the UK after being made redundant in Dubai. I am unable to find a high paying job in UK (especially since Covid hit) . II can pay the early settlement figure for the credit card, but the personal loan early settlement figure is AED168k which I cannot settle. have worked out that I can only afford to pay £70 a month at the moment, but since it is a AED debt am not being offered any way to pay without incurring telegraphic transfer charges, which would affect how much would be taken off the loan.

How can I make loan repayments from a UK GBP account without incurring telegraphic transfer charges to AED account in Dubai? Should I wait until the debt is sold to a UK company?

Carolyn

Answer

Carolyn,

Unfortunately, you may not be able to transfer money or make payments without incurring a fee or charge.

If the bank in Dubai will accept a payment plan, that is great! If not, there is little you can do, but wait if the account is sold to a UK collection agency. They then will have to work out a payment plan with you.

Do you have any other debts here in the UK?

I ask as you could then put them all in a debt management plan or some other option here in the UK.

It may be as you state, you wait and see if the account(s) are sold or assigned to a UK collection agency. The issue there is you are always wondering??

Speak to the bank, and get back to me, we will sort this out.

Regards,

Jon

2 Responses

  1. Carolyn,

    I answered your question on transfer fees to pay an account in Dubai.

    Let me know how you get on with this, and I will try to help as I can.

    Regards,

    Jon

    1. Hi Carolyn,

      I answered your question regarding transfer and exchange fees to pay an account in Dubai. If you have any further questions, or want to update me on things, just let me know.

      Regards,

      Jon

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