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Debt Consolidation in Dubai



Sub: Debt Consolidation in Dubai
Tue, 03/08/2010 05:11

My brother in law's currently residing in Dubai (he's Indian), and he has credit card debt problem. He really wants to payoff the cards, but can't afford it. He ends up paying minimum payment every month. He has tried to contact the issuer bank to consolidate the debt, but it seems they don't want to help :(

Gees, he doesn't want to run and he's been a loyal customer...

Anybody here can give me a clue? Me and my sister are now trying to help him out of his problem.

Please, any idea...



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Sub: #1 Closing this thread. Dubai borrowers really need to find a boardTue, 08/03/2010 - 05:11



Closing this thread. Dubai borrowers really need to find a board that specializes in loans/debts that originate from that country.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


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Sub: #2 To understand this: If you don't pay, the bank will eventuallyTue, 08/03/2010 - 05:08



To understand this:

If you don't pay, the bank will eventually catch you and put you in jail. How long for?

If you do not repay them whilst you are in jail and then serve your term is the debt then gone or is this a life sentance until you find some means of repayment?

ISDM try to help you restructure your debt, first meeting is free, then AED 350 for a consultation, then 2% of the total debt charged up front for them to represent you in negotiating a solution. Is that right? If you have a mortgage that's a lot of money to pay right?

I understand that banks are employing debt collectors to find bad debtors but I read that they have no power to seize overseas assets or to extradite you to UAE. Is that correct?


Unregistered

Sub: #3 Quote:Originally Posted by Anonymoustry calling ISDM Swiss Debt Mon, 07/26/2010 - 01:03



Quote:
Originally Posted by Anonymous
try calling ISDM Swiss Debt Mgt Consultancy. They are available in Dubai



ISDM charge 350 dhs for consultation I been there paid the fee and never had any phone calls from them. Thay will read your statement, they will ask how you spend it, then they will tell you if there is a solution they will charge 2 percent to represent you, while if the bank are luckily approachable you can do it yourself.

I was advise to take a loan to pay my all my credit cards? if I have still the means to do that I could have taken the loan and pay them without consulting to ISDM. If your in tight situation and hopeless, I would say that there is no other way yet that the authorities will favor the consumers who are stuck with all this bank rules and procedures.. bouncing checks, police case, immigration ban and cannot renew working visa.

That means if you have loan, and defaulted have a police case, no other banks will give you loan anymore, you will loss your job, and wait till they caught you and put you to jail.

There are no options, no consolidations, there is restructuring but you must have a guarantor erning min 5000 dhs, working in a bank listed company, with check book and working in uae for min 1 year.. where can you find a person who will guarantee for you?
no guarantor no restructuring of loan or credit cards.

ISDM cannot bend rules of the bank.. they can help you to the things even you can even do for yourself.. talk to the bank and find the answer without paying fees. If bank says no then nobody can help you with that it is the system here and banks are taking advantages doesnt care and will not listen.. pay or stay here in uae without job and get jailed.


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Sub: #4 isdmTue, 07/20/2010 - 07:17



Quote:
Originally Posted by Anonymous
try calling ISDM Swiss Debt Mgt Consultancy. They are available in Dubai



ive been there and they suck...they asked to pay 350 for the consuktation fee,thats prior tlkin to them.they will show u options u have tried many times and they will offer a horrible plan not helo at all.


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Sub: #5 uae bank sucks!!!!Thu, 07/15/2010 - 11:14



uae bank sucks!!!!


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Sub: #6 I just read an article on debt in dubai and people leaving. TheSun, 07/11/2010 - 07:28



I just read an article on debt in dubai and people leaving. They are finding 50 and more cars a week abondoned at the airport as people leave the country. The debt load people are fleeing from is incredible.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


Unregistered

Sub: #7 if you flea the country its a matter of time before they will caSun, 07/11/2010 - 05:24



if you flea the country its a matter of time before they will catch up with you.. i have same problem .. am trying to finish one at a time
that is pay off one credit card completely in a 2 month payment with full salary paid,. and not paying the others for 2 months then i would do same for eeach credit card...thats my plan i got rid of one of them..
another thing is u could get the balance transfer facility so pay off other creditt cards completely through one of the credit cards ur holding .. this way :
1- you will have a one month payment free
2- you will consolidate your payments to one or two CC only

and that frature is not always available to all customers.


Unregistered

Sub: #8 try calling ISDM Swiss Debt Mgt Consultancy. They are available Tue, 06/29/2010 - 09:46



try calling ISDM Swiss Debt Mgt Consultancy. They are available in Dubai


Unregistered

Sub: #9 You may send an e-mail to EMAIL REMOVED PER TOS[EMAIL="Zarkut@yaSun, 06/27/2010 - 05:37



You may send an e-mail to EMAIL REMOVED PER TOS[EMAIL="Zarkut@yahoo.com"][/EMAIL] for assistance.

_______________________________________________________________
Quote:
Originally Posted by Anonymous
I have a serious problem and I need help I have too much loans and credit cards in Dubai, and Now I get outside Dubai and I lost my work there and I want to pay for everything. Now I keep 3 month advance for loans but the problem in the credit cards, last month I try to transfer money to each credit card then they told me you must to transfer to some of your friends you know to deposit the money and I can't do that because it???s a big amount for all credit cards and there is no any friends I had there I can trust, any way now I miss only 1 payment and I don't have money and don't have work also I'm outside UAE and they sent me a message last day told me the minimum payment it become 4000 Dirham???s and it was last month 1000 Dirham???s, for only 1 miss payment it become 4x times more and I don't know what I can do or whom can help me.
I call EMAAR Credit & Consolidations and they can't help, may be it for some specific persons or companies only, any way I will call them again to be sure.
Is that possible to increase the minimum payment 4x times more from 1 or 2 missing payments?
I really need help and advice.
Thanks,


Unregistered

Sub: #10 Hi, Leave the country immidietly:PTue, 06/15/2010 - 12:10



Hi,

Leave the country immidietly:P


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