mysteryme

[QUOTE=rowell;7770604] I'm surprised everyone's being so nice If I recall correctly there is a guy on here who will have an opinion - Admon or something??

I'm not looking for answers as to if it was right or wrong - I know its wrong - am hoping to hear from others who did it too. But as mentioned above, I guess very few people will admit to it!

Autonomy

[QUOTE=mysteryme;7770618] when you originally opened your bank account - i thought they took a UAE and a UK point of contact as well? Can you remember? Is there a way to find out if they have mailed to your UAE post box (or i guess that was your old company PO box?)

Roadking

[QUOTE=mysteryme;7770618] I'm not surprised that you haven't been ripped into. Getting into a mess in the first place justifies an amount of criticism. Getting yourself out without going to prison means you ain't totally thick.

mysteryme

Yes they did take UK details down (parents address and number) - no calls or mail yet.

rowell

In that case I would worry more about involving my mam n dad than the debt I left here

BurpusMe

Worth noting:
Claiming bankruptcy in the UK will not absolve UAE debts.
The only way to close this chapter is to pay it all back.

Also, leaving your debt in Dirhams is a risk I'd avoid.
You're in for roughly 25,000 GBP today... that debt could stretch to 30,000 GBP if USD gains a few basis points.

Perhaps you can get a debt consolidation loan from a UK bank?
You could use those funds to pay back the UAE banks in a lump sum, and resume monthly payments to a UK bank.

You did what you had to do, but you're not done yet.
Good luck.

eylesda

But surely mum and dad were not named as guarantors in which case they use the "not known at this address" ploy.

soukie

Just wondered how long you stayed in UAE and why you borrowed the money?

mysteryme

Just over 2 years - the usual car loan and rent loans and a bit on credit cards . Nothing out of the ordinary for Dubai!

soukie

Have you talked to the bank yet? I understand that they auction the cars that have outstanding loans so hopefully that should reduce your debt a bit - if they have found the car!

Meow

But no savings even after two years?

It is people who have no intention of paying debts back that I have an issue with. Failing to do so is tantamount to theft. All very well saying it is just a bank, but that is overly simplistic. The banks have shareholders, many of whom are the man in the street. Lower profits leads to increased costs and higher interest rates and those impact on other customers.

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Blue Cat

why be persecuted, no one does a runner unless they are desperate, I think you made a brave decision. You have said you will pay the money back. If you had stayed you could have ended up in jail. I know what I would have done.

mysteryme

No - NO savings! We moved over as a young newly married couple (both mid 20s) cause I got a job with ITP. It was my husband's first real job out of uni too. A year later I fell pregnant and lost my job (wanker of boss saw no use of a pregnant female on board, but that's another story!) when I was 5 months pregnant. 6 Months after baby born (recession time) I could not find any work. Wasnt possible to survive on my husband's salary alone (as I said it was his first proper job) - we were borrowing money from in laws to keep up with payments.

We were not living beyond our means at all. Modest one bed flat in Satwa, not a flashy car, didn't splurge on brunches or shopping etc.

Meow

I wasn't particularly criticising you and after reading your story you have my sympathies. Seems that you were very unlucky and your intentions sound honourable. ITP may be a well known company but I know of too many people who have been shafted by them.

Good luck in getting back on your feet.

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Blue Cat

Mysteryme, I second Meow's post. It will all be a distant memory this time next year. You and yours are what are important, money can't replace them. I would say now that you are on safe ground that you make the first move to the bank and explain the situation. Watch your back!