OK So we did a runner......
Jul 27th 2009, 3:48 pm
#136
Just Joined
Joined: Jul 2009
Location: UK - UAE - Qatar
Posts: 16
Re: OK So we did a runner......
[QUOTE=rowell;7770604]
Agreed!
I know - I am surprised I haven't been persecuted on here yet - am sure that will come!
Funnily enough.....that will probably not be the case......there but for the grace of god, certainly if I was in the same position I would abscond if i could not pay my debts, the consequences of not absconding seem far worse and it is commonly known that the banks/financial institutions will not talk, and why take the chance, far better to talk from the end of a telephone in the UK
Funnily enough.....that will probably not be the case......there but for the grace of god, certainly if I was in the same position I would abscond if i could not pay my debts, the consequences of not absconding seem far worse and it is commonly known that the banks/financial institutions will not talk, and why take the chance, far better to talk from the end of a telephone in the UK
Jul 28th 2009, 3:06 am
#137
BE Forum Addict
Joined: Apr 2005
Location: Melbourne
Posts: 4,553
Re: OK So we did a runner......
If the POA has been executed outside the UAE then you would need to get it "authenticated" (similar to getting your degree certs authenticated) - i.e. UAE embassy in the country of execution authenticates it, thereafter, the document gets verified (they stamp it) by the Ministry of Foreign Affairs (on Rigga Road).
Jul 28th 2009, 5:05 am
#138
BE Enthusiast
Joined: Apr 2005
Posts: 677
Re: OK So we did a runner......
If the POA has been executed outside the UAE then you would need to get it "authenticated" (similar to getting your degree certs authenticated) - i.e. UAE embassy in the country of execution authenticates it, thereafter, the document gets verified (they stamp it) by the Ministry of Foreign Affairs (on Rigga Road).
Any idea where to go and what to do? We're quite clueless about the whole thing.
Jul 28th 2009, 5:19 am
#139
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Joined: Apr 2005
Location: Melbourne
Posts: 4,553
Re: OK So we did a runner......
Burpus, in that case take the help of any lawyer who can draft the POA (needs to be bilingual) and help you with whatever (court attestation..etc.) requires to be done thereafter.
Jul 28th 2009, 7:55 am
#140
Just Joined
Joined: Jul 2009
Posts: 5
Re: OK So we did a runner......
IndieG do you know what happens to someone who got a loan with a local bank and lost a job and stopped paying? I managed to leave the country but not sure what will happen to me now....
is there anything like in the UK, that your debt will be cleared after number of years... I am still unemployed and not sure what to do now as I am unable to pay my loan...
is there anything like in the UK, that your debt will be cleared after number of years... I am still unemployed and not sure what to do now as I am unable to pay my loan...
Jul 28th 2009, 8:20 am
#141
Concierge
Joined: Feb 2007
Posts: 29,625
Re: OK So we did a runner......
IndieG do you know what happens to someone who got a loan with a local bank and lost a job and stopped paying? I managed to leave the country but not sure what will happen to me now....
is there anything like in the UK, that your debt will be cleared after number of years... I am still unemployed and not sure what to do now as I am unable to pay my loan...
is there anything like in the UK, that your debt will be cleared after number of years... I am still unemployed and not sure what to do now as I am unable to pay my loan...
Jul 28th 2009, 8:59 am
#142
BE Enthusiast
Joined: Apr 2007
Posts: 551
Re: OK So we did a runner......
IndieG do you know what happens to someone who got a loan with a local bank and lost a job and stopped paying? I managed to leave the country but not sure what will happen to me now....
is there anything like in the UK, that your debt will be cleared after number of years... I am still unemployed and not sure what to do now as I am unable to pay my loan...
is there anything like in the UK, that your debt will be cleared after number of years... I am still unemployed and not sure what to do now as I am unable to pay my loan...
It would depend on the bank and the amount, most probarbly they would have called youe employer who would have given them your visa status and also wether you were inside the country or not, if they have followed up they would have cashed the security cheque and it would have bounced, then tried again and it would have bounced, they then file a police case and that now links in with the immigration and labour department. So I personally would not attempt to enter Dubai at all until you have spoken to the bank or the immigration to see if there is a ban in place for you.
Jul 28th 2009, 4:49 pm
#143
Banned
Joined: Jul 2009
Posts: 14
Re: OK So we did a runner......
Hey there. I also recently 'skipped' the country but I paid in quite a lot of money to the bank before I left. This would be enough to cover several years payments but not the total amount. I was going to use my final settlement from my company to pay the total amount but received an email today that they have the payment in 'cash' waiting for me. I am no longer in Bahrain so am unsure of whether to return to collect it or not as I am really worried that I would get arrested at the airport.
When I was deciding whether to leave or not I spoke with lots and lots of people including people on here. One thing that everyone that has left needs to check is whether they not have a criminal record as a consequence. Apparently it is automatic as soon as you dont pay for personal loans - credit cards are kept as 'civil cases' until you get called for court. However, I am not a lawyer, this is just what I have been told whilst researching. There doesn't appear to be any clear cut laws that are accessible - I've searched everywhere.
I never wanted to skip and I think that it is something that will continue to cause problems for a long time as potential employers are asking for references - I left without having my visa cancelled...no way they will give me a reference now. But skipping is better than the alternative - jail.
I would advise any newbies NOT to get any form of debt - but it is hard. Mine was caused cos I had an ass of a boss who insisted that I 'looked' the part. I understand your situation completely Mysteryme.
When I was deciding whether to leave or not I spoke with lots and lots of people including people on here. One thing that everyone that has left needs to check is whether they not have a criminal record as a consequence. Apparently it is automatic as soon as you dont pay for personal loans - credit cards are kept as 'civil cases' until you get called for court. However, I am not a lawyer, this is just what I have been told whilst researching. There doesn't appear to be any clear cut laws that are accessible - I've searched everywhere.
I never wanted to skip and I think that it is something that will continue to cause problems for a long time as potential employers are asking for references - I left without having my visa cancelled...no way they will give me a reference now. But skipping is better than the alternative - jail.
I would advise any newbies NOT to get any form of debt - but it is hard. Mine was caused cos I had an ass of a boss who insisted that I 'looked' the part. I understand your situation completely Mysteryme.
Jul 29th 2009, 1:31 pm
#144
Just Joined
Joined: Jul 2009
Posts: 25
Re: OK So we did a runner......
It would depend on the bank and the amount, most probarbly they would have called youe employer who would have given them your visa status and also wether you were inside the country or not, if they have followed up they would have cashed the security cheque and it would have bounced, then tried again and it would have bounced, they then file a police case and that now links in with the immigration and labour department. So I personally would not attempt to enter Dubai at all until you have spoken to the bank or the immigration to see if there is a ban in place for you.
Jul 29th 2009, 6:48 pm
#145
Just Joined
Joined: Jul 2009
Posts: 5
Re: OK So we did a runner......
It would depend on the bank and the amount, most probarbly they would have called youe employer who would have given them your visa status and also wether you were inside the country or not, if they have followed up they would have cashed the security cheque and it would have bounced, then tried again and it would have bounced, they then file a police case and that now links in with the immigration and labour department. So I personally would not attempt to enter Dubai at all until you have spoken to the bank or the immigration to see if there is a ban in place for you.
I have received an email to pay up but surprisingly I cannot respond as the email bounces back. The amount is over 100k...
Anyone has any idea what will happen next?? I am still unemployed so not in a position to pay in forceeable time...
Jul 30th 2009, 3:46 am
#146
BE Forum Addict
Joined: Apr 2005
Location: Melbourne
Posts: 4,553
Re: OK So we did a runner......
I am not intending to return as I know what would have happened. I would like to know though whether anyone knows what will happen once the bank files the complaint...
I have received an email to pay up but surprisingly I cannot respond as the email bounces back. The amount is over 100k...
Anyone has any idea what will happen next?? I am still unemployed so not in a position to pay in forceeable time...
I have received an email to pay up but surprisingly I cannot respond as the email bounces back. The amount is over 100k...
Anyone has any idea what will happen next?? I am still unemployed so not in a position to pay in forceeable time...
Some banks employ the services of a debt collection agency (send goons to collect money in countries like India, Pakistan and Philippines)....very rare for banks to use debt collection agencies in UK/US/Aus...
Jul 30th 2009, 3:55 am
#147
Lost in BE Cyberspace
Joined: Jul 2007
Posts: 13,553
Re: OK So we did a runner......
And if anyone DOES decide to return to Dubai to sort out their finances, please remember your 'free from swine flu certificate'.............. 
Aug 10th 2009, 5:23 pm
#148
Just Joined
Joined: Aug 2009
Posts: 3
Re: OK So we did a runner......
I totally sympathise - we also had no intentions of taking out a loan - but with the housing allowance we get [and we both work for the same co so only get 1 housing allowance] and 2 kids, dogs and a cat - we had no alternative but to take out a loan for the rent. I think if the bank had to change their ways, be more approachable a lot of people would not skip. But honestly, and god forbid, should i ever get into that position i would probably leave too.
Aug 21st 2009, 8:16 am
#149
Just Joined
Joined: Aug 2009
Posts: 13
Re: OK So we did a runner......
So, I've been reading this thread comfortably ensconced in my bedroom, drinking a beautiful glass of red and listening to my dog snore.
I left a well-known media company and left behind Dhs150k in debt. When the bank got in touch with me I refused to pay. My reasons for this were twofold: 1) risk goes along with profit and the bank assumes some level of risk when they advance credit. If the bank wasn't willing to assume that level of risk then they shouldn't have advanced me the credit. 2) that money stayed in the country. I didn't put the cash in a money belt and slip out of Dubai better off than I came. I fell on hard times and, yes, was more concerned about me and mine than I was with the bank, the banking sector or the fat ***** who invest in either. Standard Chartered can take the hit.
For me it wasn't a moral consideration because I wasn't borrowing the money from a chap who was going to go out of business if I defaulted.
Also, I called my lawyer in the US and talked to him about the consequences of skipping town. He said the consequences were non existent compared to those of staying in the UAE. First, he tells me, in the US at least, the only thing the bank can do is sell the debt at .30 on the dollar to a US based company or subsidiary of the creditor. Also, they can't, by US law come after my home, anything I use to make a living or my retirement savings. So, my house, my car, my computers and my 401k are all safe. Also, they need to get a judgment in a US court, with a US judge or jury. The chances of Arabs getting a judgment against me are nil.
Do I feel bad? No. Well, a little. It was hard to get references for my new work, but I sorted it out. Would I do it the same way again? No. I would have just stayed home.
I keep reading the posts from admon and I keep thinking "what a fool." Admon reminds me of my grandfather and I'll bet he's from that same century of gold-backed securities. His loyalty is misplaced. He is looking out for all the wrong people. When you are deciding whether to flee or not you need think about: your kids, your spouse, yourself—that's all.
On another note, I just sold a book about my time in the UAE and the advance is enough to cover my debt and then some. Am I going to pay off my debts? It depends on whether it would be better to fight it in court. If I can get it settled for less than I owe then that's what I'll do. It's a business decision and not a referendum on my morality. Assets-liabilities=worth. It's that simple. No, I don't kick dogs, trip old people, cheat on my taxes or steal.
I'll let you know what happens, but I suspect nothing will. I suspect it'll never see the inside of a courtroom and I will never have to pay it back.
In the meantime I'll stay away from Dubai when I fly to India and remember my time with good friends there fondly.
I left a well-known media company and left behind Dhs150k in debt. When the bank got in touch with me I refused to pay. My reasons for this were twofold: 1) risk goes along with profit and the bank assumes some level of risk when they advance credit. If the bank wasn't willing to assume that level of risk then they shouldn't have advanced me the credit. 2) that money stayed in the country. I didn't put the cash in a money belt and slip out of Dubai better off than I came. I fell on hard times and, yes, was more concerned about me and mine than I was with the bank, the banking sector or the fat ***** who invest in either. Standard Chartered can take the hit.
For me it wasn't a moral consideration because I wasn't borrowing the money from a chap who was going to go out of business if I defaulted.
Also, I called my lawyer in the US and talked to him about the consequences of skipping town. He said the consequences were non existent compared to those of staying in the UAE. First, he tells me, in the US at least, the only thing the bank can do is sell the debt at .30 on the dollar to a US based company or subsidiary of the creditor. Also, they can't, by US law come after my home, anything I use to make a living or my retirement savings. So, my house, my car, my computers and my 401k are all safe. Also, they need to get a judgment in a US court, with a US judge or jury. The chances of Arabs getting a judgment against me are nil.
Do I feel bad? No. Well, a little. It was hard to get references for my new work, but I sorted it out. Would I do it the same way again? No. I would have just stayed home.
I keep reading the posts from admon and I keep thinking "what a fool." Admon reminds me of my grandfather and I'll bet he's from that same century of gold-backed securities. His loyalty is misplaced. He is looking out for all the wrong people. When you are deciding whether to flee or not you need think about: your kids, your spouse, yourself—that's all.
On another note, I just sold a book about my time in the UAE and the advance is enough to cover my debt and then some. Am I going to pay off my debts? It depends on whether it would be better to fight it in court. If I can get it settled for less than I owe then that's what I'll do. It's a business decision and not a referendum on my morality. Assets-liabilities=worth. It's that simple. No, I don't kick dogs, trip old people, cheat on my taxes or steal.
I'll let you know what happens, but I suspect nothing will. I suspect it'll never see the inside of a courtroom and I will never have to pay it back.
In the meantime I'll stay away from Dubai when I fly to India and remember my time with good friends there fondly.
Aug 21st 2009, 9:05 am
#150
BE Enthusiast
Joined: Apr 2005
Posts: 677
Re: OK So we did a runner......
So, I've been reading this thread comfortably ensconced in my bedroom, drinking a beautiful glass of red and listening to my dog snore.
I left a well-known media company and left behind Dhs150k in debt. When the bank got in touch with me I refused to pay. My reasons for this were twofold: 1) risk goes along with profit and the bank assumes some level of risk when they advance credit. If the bank wasn't willing to assume that level of risk then they shouldn't have advanced me the credit. 2) that money stayed in the country. I didn't put the cash in a money belt and slip out of Dubai better off than I came. I fell on hard times and, yes, was more concerned about me and mine than I was with the bank, the banking sector or the fat ***** who invest in either. Standard Chartered can take the hit.
For me it wasn't a moral consideration because I wasn't borrowing the money from a chap who was going to go out of business if I defaulted.
Also, I called my lawyer in the US and talked to him about the consequences of skipping town. He said the consequences were non existent compared to those of staying in the UAE. First, he tells me, in the US at least, the only thing the bank can do is sell the debt at .30 on the dollar to a US based company or subsidiary of the creditor. Also, they can't, by US law come after my home, anything I use to make a living or my retirement savings. So, my house, my car, my computers and my 401k are all safe. Also, they need to get a judgment in a US court, with a US judge or jury. The chances of Arabs getting a judgment against me are nil.
Do I feel bad? No. Well, a little. It was hard to get references for my new work, but I sorted it out. Would I do it the same way again? No. I would have just stayed home.
I keep reading the posts from admon and I keep thinking "what a fool." Admon reminds me of my grandfather and I'll bet he's from that same century of gold-backed securities. His loyalty is misplaced. He is looking out for all the wrong people. When you are deciding whether to flee or not you need think about: your kids, your spouse, yourself—that's all.
On another note, I just sold a book about my time in the UAE and the advance is enough to cover my debt and then some. Am I going to pay off my debts? It depends on whether it would be better to fight it in court. If I can get it settled for less than I owe then that's what I'll do. It's a business decision and not a referendum on my morality. Assets-liabilities=worth. It's that simple. No, I don't kick dogs, trip old people, cheat on my taxes or steal.
I'll let you know what happens, but I suspect nothing will. I suspect it'll never see the inside of a courtroom and I will never have to pay it back.
In the meantime I'll stay away from Dubai when I fly to India and remember my time with good friends there fondly.
I left a well-known media company and left behind Dhs150k in debt. When the bank got in touch with me I refused to pay. My reasons for this were twofold: 1) risk goes along with profit and the bank assumes some level of risk when they advance credit. If the bank wasn't willing to assume that level of risk then they shouldn't have advanced me the credit. 2) that money stayed in the country. I didn't put the cash in a money belt and slip out of Dubai better off than I came. I fell on hard times and, yes, was more concerned about me and mine than I was with the bank, the banking sector or the fat ***** who invest in either. Standard Chartered can take the hit.
For me it wasn't a moral consideration because I wasn't borrowing the money from a chap who was going to go out of business if I defaulted.
Also, I called my lawyer in the US and talked to him about the consequences of skipping town. He said the consequences were non existent compared to those of staying in the UAE. First, he tells me, in the US at least, the only thing the bank can do is sell the debt at .30 on the dollar to a US based company or subsidiary of the creditor. Also, they can't, by US law come after my home, anything I use to make a living or my retirement savings. So, my house, my car, my computers and my 401k are all safe. Also, they need to get a judgment in a US court, with a US judge or jury. The chances of Arabs getting a judgment against me are nil.
Do I feel bad? No. Well, a little. It was hard to get references for my new work, but I sorted it out. Would I do it the same way again? No. I would have just stayed home.
I keep reading the posts from admon and I keep thinking "what a fool." Admon reminds me of my grandfather and I'll bet he's from that same century of gold-backed securities. His loyalty is misplaced. He is looking out for all the wrong people. When you are deciding whether to flee or not you need think about: your kids, your spouse, yourself—that's all.
On another note, I just sold a book about my time in the UAE and the advance is enough to cover my debt and then some. Am I going to pay off my debts? It depends on whether it would be better to fight it in court. If I can get it settled for less than I owe then that's what I'll do. It's a business decision and not a referendum on my morality. Assets-liabilities=worth. It's that simple. No, I don't kick dogs, trip old people, cheat on my taxes or steal.
I'll let you know what happens, but I suspect nothing will. I suspect it'll never see the inside of a courtroom and I will never have to pay it back.
In the meantime I'll stay away from Dubai when I fly to India and remember my time with good friends there fondly.
F'n Yanks.