Emirates NBD Dubai debt
Sep 27th 2012, 1:52 pm
#121
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112
Re: Emirates NBD Dubai debt
A foreign debt is recoverable. As you rightly point out, a foreign judgment is (in certain circumstances and subject to the applicable procedure) enforceable in the UK. Therefore a foreign debt may be recoverable in the UK, albeit this is subject to having obtained the appropriate judgment in the relevant jurisidiction in which the debt occurred (such judgment which can then be enforced in the UK through the UK courts).
I am missing what question I've avoided re enforcing foreign debts?
I am missing what question I've avoided re enforcing foreign debts?
However, see Middle Eastern Oil v National Bank of Dubai in my post above. For all of those of us who have accounts here (ie all of us, I would imagine), have you examined your bank's terms and conditions to see if they have the right to sue you in any jurisdiction?
Sep 27th 2012, 1:56 pm
#122
Shark Fisherman
Joined: Feb 2012
Location: Doha
Posts: 4,568
Re: Emirates NBD Dubai debt
The one thing that confuses me is, If loaning money for profit is Haraam under Sharia Law how can they then use the same Law they flout to throw you in Jail?
Sep 27th 2012, 1:57 pm
#123
BE Enthusiast
Joined: Jul 2012
Location: No longer in Dohell. Thank fvck.
Posts: 359
Re: Emirates NBD Dubai debt
Im also surprised that there doesn't seem to be a local company that helps debtors as an intermediary with the banks.
If there was a company that would run down to the police station and find out what cases were open, then handle it for you.... im sure they would do alot better than debt collectors trying to terrorize.
Im sure if people who owed money were contacted and told:
"Hey we are based in Dubai and offer the following service"
They would be more likely to give it a go, than if a toothless debt collection agency starts making empty threats..
If there was a company that would run down to the police station and find out what cases were open, then handle it for you.... im sure they would do alot better than debt collectors trying to terrorize.
Im sure if people who owed money were contacted and told:
"Hey we are based in Dubai and offer the following service"
- "Hey we can go check your police cases for you"
- "We have a track record of negotiating 50-60% reduction for people"
- "We handle all the NOC's from the banks and send them to you"
- "We go to immigration and make sure they have no file for you anymore"
They would be more likely to give it a go, than if a toothless debt collection agency starts making empty threats..
Sep 27th 2012, 1:59 pm
#124
Up in the air
Joined: Oct 2004
Location: I'm global baby!!!!!!
Posts: 7,263
Re: Emirates NBD Dubai debt
Instead they charge a monthly "administration cost"..... which works out the same as a typical interest rate..
Sep 27th 2012, 2:01 pm
#125
Up in the air
Joined: Oct 2004
Location: I'm global baby!!!!!!
Posts: 7,263
Re: Emirates NBD Dubai debt
Now this would be a good business proposition, save for one vital missing component.... The banks in the UAE are too stupid and uncommercial for this to work. Their response will be "uh uh we no reduce debt. we want our money. you pay us all money" rather than adopt a pragmatic view of 50% of something is worth more than 100% of fvck all.
I cant see any major issues, as it is possible to represent by proxy already.
As long as you have signed authority to represent, and collect NOC's it should be a walk in the park...
Sep 27th 2012, 2:05 pm
#126
Shark Fisherman
Joined: Feb 2012
Location: Doha
Posts: 4,568
Re: Emirates NBD Dubai debt
Oh. In car finance agreements the 'Profit' is stated to the customer and spread across the term, that's the only agreements I have seen to be fair and they have not been mine so didn't look too closely. Though my CC just charges a 'Fee' no Interest.
Sep 27th 2012, 3:10 pm
#127
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: Emirates NBD Dubai debt
Why in earth should I answer you? You are a nobody who thinks they are important because they are a 'concierge' not even a bloody moderator. It is nothing to do with number of posts, but experience and knowledge, plus having contacts. I don't need to blow my own trumpet, there are plenty of people here who know what I do to help people and get them out of trouble.
Sep 27th 2012, 3:27 pm
#128
BE Forum Addict
Joined: Sep 2009
Location: Abu Dhabi
Posts: 1,805
Re: Emirates NBD Dubai debt
Why in earth should I answer you? You are a nobody who thinks they are important because they are a 'concierge' not even a bloody moderator. It is nothing to do with number of posts, but experience and knowledge, plus having contacts. I don't need to blow my own trumpet, there are plenty of people here who know what I do to help people and get them out of trouble.
Sep 27th 2012, 3:30 pm
#129
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
You just can't break through some egos...
Sep 28th 2012, 12:38 am
#131
BE Co-Founder
Joined: Feb 2000
Location: Florida
Posts: 25,928
Re: Emirates NBD Dubai debt
Seems to be a big bun fight going on in here.
Thread closed because I can see it isn't going to get any better. Try and keep things civil next time.
Thanks
Thread closed because I can see it isn't going to get any better. Try and keep things civil next time.
Thanks
