Leaving with Debt

Old Nov 8th 2019, 3:39 pm
  #1  
Forum Regular
Thread Starter
 
Joined: May 2017
Posts: 34
Jammydodger2016 is an unknown quantity at this point
Default 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.
Jammydodger2016 is offline  
Old Nov 9th 2019, 11:44 pm
  #2  
Forum Regular
 
Joined: Aug 2010
Posts: 67
frequentflyer1234 is a name known to allfrequentflyer1234 is a name known to allfrequentflyer1234 is a name known to allfrequentflyer1234 is a name known to allfrequentflyer1234 is a name known to allfrequentflyer1234 is a name known to allfrequentflyer1234 is a name known to allfrequentflyer1234 is a name known to allfrequentflyer1234 is a name known to allfrequentflyer1234 is a name known to allfrequentflyer1234 is a name known to all
Default 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
frequentflyer1234 is offline  
Old Nov 10th 2019, 3:11 am
  #3  
BE Forum Addict
 
Joined: Jan 2017
Posts: 2,070
carcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond repute
Default 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.
carcajou is offline  
Old Nov 10th 2019, 5:01 am
  #4  
WWLLCJD?
 
Scamp's Avatar
 
Joined: Feb 2011
Location: Dubai
Posts: 22,574
Scamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond repute
Default Re: Leaving with Debt

Is the gratuity more than the debt?
Can you afford to pay any of most of it off before leaving?
Scamp is offline  
Old Nov 10th 2019, 5:15 am
  #5  
Forum Regular
Thread Starter
 
Joined: May 2017
Posts: 34
Jammydodger2016 is an unknown quantity at this point
Default 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.
Jammydodger2016 is offline  
Old Nov 10th 2019, 8:50 am
  #6  
WWLLCJD?
 
Scamp's Avatar
 
Joined: Feb 2011
Location: Dubai
Posts: 22,574
Scamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond repute
Default Re: Leaving with Debt

Can you stay and pay the debt until it's less than gratuity?
Scamp is offline  
Old Nov 11th 2019, 4:33 am
  #7  
Forum Regular
 
Joined: Jan 2017
Posts: 133
Gavtek is just really niceGavtek is just really niceGavtek is just really niceGavtek is just really niceGavtek is just really niceGavtek is just really niceGavtek is just really niceGavtek is just really niceGavtek is just really nice
Default 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?
Gavtek is offline  
Old Nov 11th 2019, 5:00 am
  #8  
Forum Regular
 
Charl01's Avatar
 
Joined: Jan 2016
Location: Kuwait
Posts: 216
Charl01 has a reputation beyond reputeCharl01 has a reputation beyond reputeCharl01 has a reputation beyond reputeCharl01 has a reputation beyond reputeCharl01 has a reputation beyond reputeCharl01 has a reputation beyond reputeCharl01 has a reputation beyond reputeCharl01 has a reputation beyond reputeCharl01 has a reputation beyond reputeCharl01 has a reputation beyond reputeCharl01 has a reputation beyond repute
Default 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
Charl01 is offline  
Old Nov 11th 2019, 5:27 am
  #9  
Lost in BE Cyberspace
 
Joined: Nov 2012
Location: bute
Posts: 8,123
scot47 has a reputation beyond reputescot47 has a reputation beyond reputescot47 has a reputation beyond reputescot47 has a reputation beyond reputescot47 has a reputation beyond reputescot47 has a reputation beyond reputescot47 has a reputation beyond reputescot47 has a reputation beyond reputescot47 has a reputation beyond reputescot47 has a reputation beyond reputescot47 has a reputation beyond repute
Default 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
scot47 is offline  
Old Nov 12th 2019, 5:36 am
  #10  
BE Forum Addict
 
co durham boy's Avatar
 
Joined: Aug 2009
Location: Dubai
Posts: 3,907
co durham boy has a reputation beyond reputeco durham boy has a reputation beyond reputeco durham boy has a reputation beyond reputeco durham boy has a reputation beyond reputeco durham boy has a reputation beyond reputeco durham boy has a reputation beyond reputeco durham boy has a reputation beyond reputeco durham boy has a reputation beyond reputeco durham boy has a reputation beyond reputeco durham boy has a reputation beyond reputeco durham boy has a reputation beyond repute
Default Re: Leaving with Debt

Jump on a plane , wave goodbye and thank me later .
co durham boy is offline  
Old Nov 12th 2019, 8:54 am
  #11  
Knee deep and rising
 
weasel decentral's Avatar
 
Joined: Sep 2011
Posts: 2,842
weasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond reputeweasel decentral has a reputation beyond repute
Default 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.
weasel decentral is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.