# Help......advice on leaving with debt.



## Badger1967 (Dec 23, 2009)

Hi eveyone,

I have just tendered my resignation. It has not yet been accepted but have had discussions about what I can do going forward.

The company would like me to work a notice period. I am willing but

My questions are:

1. Will the bank where my salary is deposited be informed as soon as my resignation is accepted?

2. Does my residents visa get cancelled at the start or end of my notice period?

3. I have a bank loan with a different bank to where my salary is deposited. I will not be able to pay this off in full but could deposit a couple of monthly payments so I wlll not default until I've been gone a couple of months. 
My company have said they must legaly inform every bank I am leaving??!! but they don't know who I have the loan through and I'm not going to tell them.

4. Is it best just to get on a plane straight away and forget the notice period....

I am not planning to return to Dubai or fly anywhere near in the future so I'm not bothered by a ban. 

Any advice?


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## Elphaba (Jan 24, 2008)

Badger1967 said:


> Hi eveyone,
> 
> I have just tendered my resignation. It has not yet been accepted but have had discussions about what I can do going forward.
> 
> ...


Comments above. It sounds as if you are hoping to run away from your commitments. I do hope this is not the case...
-


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## Mr Rossi (May 16, 2009)

Why are you bothering to waste time even typing this post?

Get packing and a plane ticket, sort out your remaing debt from the UK.


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## wandabug (Apr 22, 2010)

If you default before you leave, the bank can inform the police and you will not be able to leave Dubai.
If you have any money in your account get it out asap incase they freeze your account.
Surely the bank where you got your loan know who you work for or how did you get the loan? There is a strong possibility your employer will inform them you are leaving.
As Elphy pointed out if you do not clear this loan you can never transit through Dubai.
If you plan to carry on with the payments after you leave, wait until you have left before discussing a payment plan with them incase they try to stop you leaving.


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## Andy Capp (Oct 5, 2008)

Unfortunately because of the rules here - and the abject panic of banks - even if you intend to fully repay, are not in arrears and never have been, if you tell the bank they WILL bank your cheque.

The criminal offence is writing out a cheque knowing it would bounce, so are the bank aiding and abetting a crime by insisting of the full credit limit/loan/car value when you get the finance?


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## wandabug (Apr 22, 2010)

as AC pointed out, the bank will process your loan cheque even if they know it will bounce so that they can involve the police.


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## Mr Rossi (May 16, 2009)

wandabug said:


> even if they know it will bounce so that they can involve the police.



And even having sat with the bank manager and explained that you have the money to keep making the payments and intend to do so and him telling you, yes yes yes, not a problem my dear.


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## Helios (Oct 22, 2008)

The company will inform the bank where your salary is being transferred only when your notice period will be completed.
As soon as the bank will be informed, they will freeze your account so you will not be able to withdraw any funds from it and then they will contact you and may ask for full settlement of your loan.
However, I have a friend that went back home and is still paying his loans monthly instalments after having talked with the bank and agreed about it.


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## Dozza (Feb 17, 2009)

If you are planning on doing a runner & not paying back the money you initially borrowed, I personally hope you get caught & then face the consequences.

Im no angel, but this kind of stupidity makes it difficult for legit people who actually need credit & intend to pay it back. 

My advise is for you to continue in your employment & pay back your debt, then leave

Moan Over



Badger1967 said:


> Hi eveyone,
> 
> I have just tendered my resignation. It has not yet been accepted but have had discussions about what I can do going forward.
> 
> ...


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## Rochelle (Sep 20, 2010)

Looks for the like button... hear hear!


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## Nightshadow (Sep 21, 2010)

Dozza said:


> If you are planning on doing a runner & not paying back the money you initially borrowed, I personally hope you get caught & then face the consequences.
> 
> Im no angel, but this kind of stupidity makes it difficult for legit people who actually need credit & intend to pay it back.
> 
> ...


I agree with you 100%. I know theres a feeling of "Hey, im leaving and they cant do anything once I am gone... haha, no reason to pay this money!" In the end, you just never know how this can end up affecting you, with the constant globalization going on nowadays, I wouldnt be surprised if this catches up to you in your country somehow. 

A great example would be all of the males that get a girl pregnant and then leave the country of residence. (For example, if I get a girl pregnant in EU and leave for the US, i can STILL be tracked and forced to pay child support - I know someone personally it happened to who did not expect this to happen) - Governments are now cooperating with each other to eliminate just this sort of crap. 

Careful. Hope you do the right thing!


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## Andy Capp (Oct 5, 2008)

ROSE1122 said:


> fsfgdfhfghjgfjh


Rose?

Are you OK??????


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## ramiloutfi (Sep 28, 2010)

Thanks to people who did a runner like what i assume Badger is planning on doing, people like me and a lot others find it extremely difficult getting a car loan nowadays!


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## DubaiATC (Jun 26, 2010)

I am not condoning or considering departing with debt (running away from it), but I am curious about something. When I secured a personal loan from the same bank that my salary gets deposited in, I specifically remember being told that part of my monthly payments would be for "insurance". I assumed this would be used in the event that I defaulted on the loan. Is this correct? And if so, then wouldn't the insurance money repay the outstanding loan amount to the bank? Could the insurance company come after someone in this case, after they had departed the UAE?


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## ramiloutfi (Sep 28, 2010)

One of the reasons they take your home (mother country) address when applying for a loan is because if the amount is bigger than what the insurance choses to cover then they will send the Interpol after you.


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## Amame (Jan 11, 2011)

When you applied for the loan, your company has provided you one letter which mentioned that they will send your final settlement to the bank. And when the company transfer your final settlement, they will mention that it is the "Final settlement"and that is when the bank know you are leaving the company. 

I've got this information from the bank last month before I moved to the new company.


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## Tropicana (Apr 29, 2010)

Doing a runner is criminal

Similarly banks who cash security cheques for the entire loan amount are doing something close to criminal....


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## ShaunDubai (Aug 12, 2010)

i) Publishing your intentions must mean you're naive, as well as stupid.

ii) Do you really think that waiting to get home before you default makes it all OK?

Thanks for making life easier for those of us who are staying (not!).


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## Canuck_Sens (Nov 16, 2010)

wow I just gave SH** in a different post about debts...

Listen, try paying your debts. You do not know what the future holds so be smart about it. Cannot you live like a student for 3 months and pay off your debts ? I think you can.

and don't ask for advice when you are kindah telling us you will commit a crime. Some of us even asked if you were about to do a runner when it was obvious you are planning to do so.


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## sdew (Jan 24, 2011)

The Bank could get to you through the police in your home country as the case was a year or 2 back when Interpol arrested a man in England for not paying 5000 AED. Its up to you whether you want to take the risk or just work through your debt. 

If you are tendering your resignition then you would be paid gratuity. Use this to cover your debts and go home knowing you can sleep safe and sound without any worries on your mind!


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## Sunset (Jan 24, 2011)

I see you are from the UK. Would you be able to walk away from your debt there? NOT!!!

Apparently you are returning to the UK (or wherever you are moving on to). It was your decision as you resigned from your company, and you weren't sacked. Retract your resignation, stay, and pay off your debt. If that is not a possibility, you CAN pay the loan off from wherever you are - show some self-integrity. If you do a runner and leave behind debt, you never know if it will come back to haunt you.


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## Mr Rossi (May 16, 2009)

Sunset said:


> I see you are from the UK. Would you be able to walk away from your debt there?


No, but you can restructure it amicably with the lender without fear of going to prison at any point.


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## Sunset (Jan 24, 2011)

Mr Rossi said:


> No, but you can restructure it amicably with the lender without fear of going to prison at any point.


I get what you are saying. People who do want to do the right thing fear approaching the bank because you really don't have a clue what the outcome would be. But there is no reason not to continue to make payments if you are out of the country.


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## samfurah (Jan 7, 2011)

poor badger! must be regretting on posting his intention.....wont say anything you had enough doses.....


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