Leaving with Debt
 

I am thinking to leave ME and move back to London in the next 3 months

Problem is I have a debt i am worried that if I tell the bank i am leaving they will eat up my end of service gratuity that my company will pay. Is there any way I can take my money and then call the bank from UK and negotiate a payment plan. Ideally this is what I want to do. I am worried that if I resign in a few months my company will tell the Bank and the bank will want all funds paid back immediately and not allow me to leave to go back to the UK.

Re: Leaving with Debt
 

As soon as your bank receives your last salary payment/EOSB they will immediately freeze your account for the outstanding loan amount AND your credit card limit (NOT OUTSTANDING BALANCE).

I know this because I have moved company twice and this happened both times.

Leaving without settling what you owe is your decision but may cause problems if you ever want to come back/transit through the area.

Remember it’s hard enough to get things done when you live here, imagine trying to sort things when you don’t.

Personally I’d try to leave on good terms and make sure you get clearance certificates for everything before you depart. Eg Bank/Credit card, Mobile, Tv/Internet, Utilities etc

Re: Leaving with Debt
 

In theory, yes the bank could take your gratuity and could block you at the airport. If you abscond you could be blacklisted from returning.

In practise, application of this seems random.

The bank gets alerted automatically as to your final payment so they will know you are leaving. Once you're gone, they don't have many tools to be able to collect so I doubt they will be very open to a repayment plan.

I used to advise people in my organisation to NEVER get a UAE-issued credit card and if they couldn't pay cash for a new car - lease or buy used in cash. Employment situations are too precarious and when/if things go south, they can really go south.

Good luck. I would try to settle the debt even at the expense of gratuity.

Re: Leaving with Debt
 

Is the gratuity more than the debt?
Can you afford to pay any of most of it off before leaving?

Re: Leaving with Debt
 

Thank you both.

Scamp Its around 50K Riyals less then the debt. I was thinking to pay a sum and negotiate a payment plan to pay the remainder from the UK.

But for my new employer for sure they will ask for police clearance etc....so I dont want the bank to report me as a runaway because that is not what I am planning to do.

Re: Leaving with Debt
 

Can you stay and pay the debt until it's less than gratuity?

Re: Leaving with Debt
 

Can you ask your employer to give you your final salary/EOSB as a cheque (I'm sure you can think of an excuse for this) to avoid them notifying the bank?

Re: Leaving with Debt
 

From what I can see you haven't been in the ME all that long maybe a year or two?
Just trying to work out how you got that much debt? Sorry for being straight forward on this, but doing a runner is not a great thing, doesn't look you are forced to leave so maybe stay and settle your debts and then leave....
Just a suggestion

Re: Leaving with Debt
 

UAE is probabaly different from KSA. In the land of the Al-Saud the bank would take your final gratuity and end-of-service benefit to pay credit cards and bank loans

Re: Leaving with Debt
 

Jump on a plane , wave goodbye and thank me later .

Re: Leaving with Debt
 

What's the debt against? Is it a car or something that you can sell now prior to leaving? Otherwise it sounds like a have your cake and eat it situation, trying to keep the lump sum and dribble back the loan at your convenience.
If you had a chance to take a new loan secured against something in the UK you could clear it fully and repay over the new term.

Re: Leaving with Debt
 

Would you perhaps know such a specialist?