Unpaid Loan in Dubai!!

[torontosm]

All personal loans are insured. Can not say about Credit Card debts.

Really? And who exactly provides this insurance? Having worked at banks for over 2 decades, I have never seen such blanket insurance, particularly in the unsophisticated Middle Eastern markets.

Banks can reduce their credit risk by securitizing assets or purchasing CDS-type securities against specific loans or investments. Further, they can require borrowers to maintain life insurance or employment insurance to protect against loss of income. However, I have yet to see any insurance company say that they would guarantee a bank's entire personal loan portfolio.

 

[canada11]

This was being told to me by a person who works in Debt collection Company in Dubai that in case loans are insured banks prime motive is to get the cheques bounced , put you behind bar , once you are served the jail term , they get the money back by insurance.

Really? And who exactly provides this insurance? Having worked at banks for over 2 decades, I have never seen such blanket insurance, particularly in the unsophisticated Middle Eastern markets.

Banks can reduce their credit risk by securitizing assets or purchasing CDS-type securities against specific loans or investments. Further, they can require borrowers to maintain life insurance or employment insurance to protect against loss of income. However, I have yet to see any insurance company say that they would guarantee a bank's entire personal loan portfolio.

 

[shahaed]

I have a very similar situation. I left Abu dhabi with unpaid load and credit cards, thinking that i will never need to go back or deal with UAE thing. I was wrong I marry my wife working in Canada with PR status and she is sponsoring me to Canada. The problem is I need to get a police clearance in Abu Dhabi because I reside in that country for 8 yrs, i was super worried at the time. having said that I still apply for police clearance in Abu dhabi with the help of my friend who was still working in Abu dhabi, and to my surprised I received my Abu dhabi police clearance with NO CRIMINAL ANTECEDENTS RECORD. Unpaid loan and credit card is consider in UAE law as a criminal case.

I left UAE 2010
I apply my police clearance last June 2016 and received it after few weeks. ;D

Hi Dhey1316,

Did you have to provide proof of funds when you went under sponsorship ? if so , did you have to declare your liabilities from other banks in your application ?

 

[Shay30]

Hi,
FYI: I still have an unpaid loan and credit card from Dubai from about 3 years ago.. I applied for the Certificate of Good conduct a few months ago and received it a few weeks ago. So no issues getting it still with unpaid debt.
Got my PR soon after that..

Did you have your visa cancelled? Were you able to leave Dubai without being blacklisted since you had unpaid loans?

 

[Shay30]

I have a very similar situation. I left Abu dhabi with unpaid load and credit cards, thinking that i will never need to go back or deal with UAE thing. I was wrong I marry my wife working in Canada with PR status and she is sponsoring me to Canada. The problem is I need to get a police clearance in Abu Dhabi because I reside in that country for 8 yrs, i was super worried at the time. having said that I still apply for police clearance in Abu dhabi with the help of my friend who was still working in Abu dhabi, and to my surprised I received my Abu dhabi police clearance with NO CRIMINAL ANTECEDENTS RECORD. Unpaid loan and credit card is consider in UAE law as a criminal case.

I left UAE 2010
I apply my police clearance last June 2016 and received it after few weeks. ;D

Hello,

Can you advice the amount of the loan by any chance? Was it large enough for the bank to be inquiring? 200k or more? I'm also worried as I'll need to do a clearance check but were you blacklisted?

 

[fofa2020]

Hello , it looks complicated the security check and clearance Che can you explain that please if you know. my friend is straggled on this stage .she is Egyptian and lift the uae now she is here as permit work and she is afraid that might has a loan police case that a why her case is in security check is taking time .please advise

 

[Mfroiz]

I have a very similar situation. I left Abu dhabi with unpaid load and credit cards, thinking that i will never need to go back or deal with UAE thing. I was wrong I marry my wife working in Canada with PR status and she is sponsoring me to Canada. The problem is I need to get a police clearance in Abu Dhabi because I reside in that country for 8 yrs, i was super worried at the time. having said that I still apply for police clearance in Abu dhabi with the help of my friend who was still working in Abu dhabi, and to my surprised I received my Abu dhabi police clearance with NO CRIMINAL ANTECEDENTS RECORD. Unpaid loan and credit card is consider in UAE law as a criminal case.

I left UAE 2010
I apply my police clearance last June 2016 and received it after few weeks. ;D

Hello, I'm in similar situation I left in July 2019 and I wasn't able to pay off loans. I have requested PCC this month. I hope no unpaid loans will appear.

 

[danilorniepes]

Hello, I'm in similar situation I left in July 2019 and I wasn't able to pay off loans. I have requested PCC this month. I hope no unpaid loans will appear.

Any Update?

 

[Mfroiz]

Any Update?

Well, I was able to find a company that can do a police check and was told if there is no case, they can file for PCC.

 

[danilorniepes]

Well, I was able to find a company that can do a police check and was told if there is no case, they can file for PCC.

which company?

 

[Baloch10]

Please update I have the same issue.

 

[baba2021]

Hello Aussie80, thanks for your statement. I have the similar situation. Can you please guide me how to get the police clearance certificate as I am applying for PR in this month in Canada. Appreciate your info

 

[Buletruck]

Hello Aussie80, thanks for your statement. I have the similar situation. Can you please guide me how to get the police clearance certificate as I am applying for PR in this month in Canada. Appreciate your info

Unlikely to get a response from them. They posted once, 8 years ago.

 

[asdq45]

Hello Aussie80, thanks for your statement. I have the similar situation. Can you please guide me how to get the police clearance certificate as I am applying for PR in this month in Canada. Appreciate your info

You can file online with moi.

 

[baba2021]

I submitted my request along with fee online to Minister of interior, Abu Dhabi more than 40 days now. No response yet