The cost of unrecoverable loans is paid by the customers who don't up and run, through higher borrowing costs and lower savings rates.

I have every sympathy for people who got caught out after a few months here, before they'd had chance to establish a savings cushion. Those who are trying to make the bank write off their debts, costing the rest of us more, can sod off.

hope it works out for you. Good post.

easy tigers, he/she/it, non white non brit

didnt actually say that they were going to do it.

To be honest and i know that i will get pelters for this, but if i knew i could get away with it, i would do it, however i really think i couldnt continue having to look over my shoulder constantly.

disclaimer: i do not have any debts whatsoever here, plenty savings.

However i do not think i owe this country a friggin dirham. (i do also know it has far outreaching affects on the global economy)

At the end of the day, you do what is required for you and your family. Period. People can make self richeous posts all day long, but if you are in a rut (and he/she/it non white non brit) is obviously not, you will do anything.

Selfish...i guess, but i couldnt care if bunking off tokeeping food on my table for my family meant that MM had to pay and extra 5AED for her 657 pair of designer shoes or PS her 345th bottle of cristal, or Dileep the pump attendant an extra 25fils for his bottle of Laban then i couldnt give a rats ass.

There are a lot of really unfortunate people caught out by this. BUT there are the Porsche, Maid, Driver, Personal Trainer, Brunch brigade who came here for 6 months, got debt to fund all that and now are fleeing. **** them.

anyway, good morning UAE. I love it here and am never going to be negative again.

Even in your situation with plenty of savings and no debt you could still rack up a few loans before you go and run off with it....the option is still there for you if you are so agreeable (and apparently is the option the OP is investigating).

i have savings and debts - the debts are intentional to reduce my UAE exposure. If it all goes tits up (and I'm not thinking losing my job here) then I can walk away with (hopefully) limited recourse to my family.

Sure, if I lost my job, I'd sell the car and cover the gap between the loan and the car value with my savings - but if I couldn't (due to some timing problem etc) then I would think of my family first. As for the loan given to me by my employer ... well they can whistle for that and I will give them the keys.

and you sound like a crook with all due respect.

Finally an unself righteous comment.

you all truly crack me up....anyone would think that i had taken the money from YOU.

Quit with your bogus assumptions - for the record i haven't done a runner because i haven't lost my job. However IF i was to loose my job, i'll do exactly the same as EVERYONE else, and that is to do a runner, so please spare me the self righteous bullshit that you'd all 'turn yourselves in' and end up sitting in jail if the situation arose where you weren't able to pay your debts.

And further for the record, the only debt i have is my car loan, and frankly if i was doing a runner i have no use for the car and hence would leave it here anyway, my credit cards i could pay off anytime, the question would be if i would want too.....yes i said it....IF I WOULD WANT TOO OR NOT - there, stick that in your pipe and smoke it.

The one's currently sitting in jail only failed to get away from doing it, thousands have already left, leaving behind their cars due to car loans, and credit card debts etc.

Not that, that makes it right, but thats the reality of it. And going on what most of you have said, according to you, all those people had no morals or conscious , or are they ok for doing it because they didnt have the means and hence did a runner anyway, which i guess is SO much better than having the means and still doing a runner - the fact that they borrowed in the first place i guess is totally irrelevant. So please once again spare me the self righteous crap.

My post was simply to try and gage what the severity, if any, would be back home.

As to constantly looking over one's shoulder, i highly doubt the frigging international authorities are going to put out an APB on you across all the major airports for a few thousand owed in a foreign country. I'm pretty sure they have much bigger 'criminals' to catch.

Besides if that was the case, there are always means to get another passport identity

well that's the thing. if you **** off without paying your debts back the banks/finance institutions have to compensate for that from all other customers..so yes you would in fact be stealing from us...

a car loan is one thing as there is (at least sometimes) a bit of equity in the damn thing, but personal loans and credit cards are pure losses..

and of course we are not saying that people should take what's coming their way and go to jail, but you were talking about running and not paying anything back whereas most runners I've heard of actually go home (to avoid jail) and then do their best to settle their debts from there. there is a big difference between those people and your kind! basically they are saving their arses from intrusion whereas you are talking about financial gain....

i understand you are not redundant at this point and that you are talking hypothetically, but that doesn't justify the question..

so again i conclude you are a complete prat!

to what do you give most weight? Something a man in a bar told you, or the info based on my conversation with senior staff at HSBC in a professional capacity?

*shrugs*


EDIT> I have just read the rest of the post on here and unimpressed by your attitude and comments. Running away from problems is never the solution. Maybe one day you'll develop a conscience...

-

man in bar. every time...

I never said that i didnt take on board what you said and if this is the case then excellent. And if one can sort out their debts when they return to the UK (or wherever home is) then its good to know that, that is an option.

You are! Where do you think the money you have borrowed comes from? The money tree?

The people that are sitting in jail are the ones who couldn't pay their debt and didn't run in time.

I doubt there are many who are sitting in jail right now who had the ability to repay their debts but chose not to.

You seem to contradict youself.
Why is that good to know....you said you don't have issues paying your debts...you just wanted to know if you could get away with not paying them...so how does being able to pay them off from UK differ from just paying them off here?

Yep, 1 out of how many? not a bad return.

The rest of us are self righteous (lying as well of course, I would guess) nobheads and douchebags (unless we agree with you of course).

Come on, be honest, you have indicated initially that you might think of doing a runner, taking savings accrued, whilst leaving big debts behind, yet not seeing this as theft or irresponsible.