I recently returned from Dubai due to losing my job, which meant I lost my Visa to stay in the country. I have a few debts thee and am worried about what may happen. I just only got back in the UK and will not be working for a few months. What will happen, and what can I do?
Unfortunately in some countries, our ability to stay and live thee is based on our jobs, which is basically our Visa to to stay in the country.
You have some options, but until you are back working and earning a wage and pay or make the full monthly payments, there is little you can do.
Loans and the collection of debt in Dubai is antiquated, the lenders and banks there only accept the contractual monthly payments, and if your bank in Dubai fr any reason does not have the money in the account to make that payment, you are in default on the account.
The bank will try to collect the account(s), but unless the account or accounts are assigned or transferred to a UK collection agency, the banks in Dubia have no authority to collect an account in the UK.
If an account is sold or assigned to a UK collection agency, that UK collection agency, has to collect the account in accord with UK laws and rules, which then affords you all of the UK’s insolvency and debt management options.
If you have any further questions, please just ask.