mysteryme

Thank you Sorry, the exclamation marks weren't aimed at you - just emphasizing the fact that although we moved to Dubai to save we definitely went home with empty pockets and a rather traumatic experience. The last few weeks before our departure were awful and I was a nervous wreck.

Blue Cat

I think it is everyones worst nightmare, to be honest with you if you had arrived 5 years ago you would have probably not been in this mess. It is all to do with timing.

admon

Yeah ok, we all know what I think of skips - old news.

I think the big error mysteryme made was to just leave the car at the airport with the keys in the ignition - ultimately anything could have happened to the car as a result of doing this.

Would have been far safer to park the car outside the bank (or the nearest parking location) and posted the keys back to the bank (by post or via a friend once you had left) in an envelope with detailed directions on where the car was situated.

Push comes to shove, whether your debt will come back to bite you on your arse - only time will tell. But in the situation, I would want to ensure that the bank is taking possession of the asset of the debt, whether it be a car, house or whatever.

I was at terminal 3 on Saturday and only noted 5 or 6 well dusty cars, that looked like skippers. Maybe there were more that were not 'aged' yet to be noticable, but certainly didn't look like a car park full.

Aikman7981

Ok, I read this entire thread expecting hellfire and brimstone.

Congrats to all and best wishes for mysteryme.

I'd bet that if the system were changed there be half as many debt skips.

Most people generally want to be honourable but when life kicks the sh__ out of you and then you are faced with the prospect of prison in a 3rd world jail what do the banks think is going to happen?

CeeBee

Well, good luck is all I say. Not something i'd do but hey. Each to their own. People can be very short sighted though but sometimes needs must n all that. I'd rather just borrow from the parents if i was desperate and pay them back.

A lot of expats bank with HSBC. They are based out of Jersey / Guernsey if i'm not mistaken? Would that mean that they could actually track you back in the UK?

eylesda

I can fully emphasize with the OP, in Bahrain we had a real piece of work for a landlord who turned the place into a building site 2 weeks after we signed a new 1 year contract. Of course we wanted to move.

We were told that if we did not pay the rent for the rest of the then 9 month period he would simply file a case against us meaning we could not travel until the court found either for or against us. I work in Saudi so would have screwed us right up.

Luckily we are not skint and we are now paying 2 lots of rent. We let it out to a mate on hard times for free and I was down the old place today, Salman Gardens in Saar, still a bloody tip.

I must admit though to changing my tune after seeing several friends lose there jobs recently. This sh*t has devastated, and not too strong a word, loads of families.

Stuff the lot of them I say, go about your daily business and forget about it all. If they come knocking what can they do to you? Nothing I'll bet.

I can't see any court in the UK actually giiving a toss about an Arab bank with egg on it's face

Good luck to you, and keep us posted.

Slingshot

maybe someone is washing them

The Dean

Correct - HSBC Middle East is a Channel islands registered company. And these days, that means all sorts of EU-related reporting requirements.

Emerald_Eyes

Apologies, I haven't read through the entire thread, but I have been monitoring it.

I'm not saying you do this, but it really pisses me off when people blame everyone but themselves for their inability to manage their own money and their massive greedy egos. Of course the banks want your money, its up to you have to a bit of common sense!

When I arrived in Dubai everyone started asking me why don't I drive a Porsche, because according to them I could afford it with my salary. Clearly, I could afford to take on massive debt, but what would happen if I had a big one off payment to make, or if I lost my job?! Instead I bought a second hand Peugeot using cash. This, to me, is sensible. Why the hell is everyone else so bloody stupid? Debt is good, if you make it work for you. Otherwise cut up the credit cards and refuse the loans.

Robbies

This is one of the better posts on here of late, and I respect the OP for starting it.

I think Dubai is a difficult place to come to and not have debts, especially if you are early on in your career - how can you come here with enough $$$ to stump up for 1 years rent?

Sounds like the OP came here and has not gone OTT, with 150k being the debt for rent, a car and some credit card spend. ITs not an excessive amount at all.

I was at T3 last night and also noted the obvious skips - wasn't that many, maybe 5 or 6 that stood out.

I really feel for anyone that was in the position that that was the only option. I know that if it were me, I'd be on the next plane also - might do some things differently though, and would certainly contact the bank (once out of UAE) to explain that I would repay the loan as soon as feasible. As mentioned above, I'd also leave the car keys with the bank so they have the asset for the loan which they can sell to pay some of it off.

Best of luck to the OP and hope the next chapter is a nicer one than the last

Blue Cat

you don't think 150k debt is not an excessive amount? I wouldn't sleep at night if I had a debt like that hanging round my neck!

klaus3974

Very simple, if your salary and package is not good enough... do not come! Why would you take the risk, instead of the company? I took massive debt during my studies in the States... but I did the research, I knew I could pay it back and I knew what the law said if I couldn't. (Some) People come here doing little research and only expecting the best. You always need to have a Plan B (with only the Plan C been the runner).

Dubai is SO expensive. There are hidden charges and fees everywhere.

Emerald_Eyes

I agree with this 100%. People's minds seem to go cloudy when they think of "the good life" and don't think about what happens when something goes wrong. 150k of debt, plus a car loan and maxed out credit cards would scare me to death. As I said, what happens if you lose your job, get ill, need to help a family member out or anything that requires a bit of extra cash. Debt to fund debt is not the way to go.

klaus3974

I totally agree with you on this. My bank was surprised when I asked them to reduce my credit card limit from 150K to 35K. How they could give you such a credit line when you are just off the boats? I bought a 2000 car that I paid cash but a guy in my office who must be in half my salary drives a brand new Mercedes SLK. It is so unreal.

Of course, this is not a particular judgement on the situation of the OP. In her situation, I would have chosen to run instead of jail.

Blue Cat

very wise words Klaus, I bet there are alot of people wishing they had thought things through a bit more before coming here. What gets me is if you walked into a bank in the UK and asked for a 15,000 quid loan, repayable over 12 months to pay your rent, you would get laughed at, yet people here seem to think that it is quite normal.