How can I find out if there is a police case registered against me over unpaid debts? I have failed to pay three instalments of my loan and am worried about what might happen. Is there anything I can do? PS, Abu Dhabi.
The quickest way of checking is to contact the bank directly, as not speaking to them only makes a situation worse. A bank is more likely to take action against a defaulting borrower if they have not communicated and are not responding to telephone calls. You could also go to a main police station in the relevant emirate to find out if a case has been registered against you. Any-one doing this will need a copy of their passport and their Emirates identity card to inquire if there are any cases or complaints registered. Once a case has been registered in respect of a debt, a bank is not likely to retract the case until the debt has been repaid, or at least a large portion of it and the remainder is in the process. Be aware that if a case is outstanding the police may also ask questions about the debt although there should be little in the way of action until a case goes to court at which point a prison sentence can be given. A custodial sentence does not mean that a debt is repaid and banks have the right to pursue a claim, plus costs. To avoid getting to this stage, it is far better to speak to a bank and try to agree a way of repaying the monies owed.
Keren Bobker is an independent financial adviser with Holborn Assets in Dubai, with over 20 years experience. Contact her at keren@holbornassets.com. Follow her on Twitter at @FinancialUAE
The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek appropriate independent legal advice.
Follow us on Twitter @TheNationalPF