what the F do you do if you get sacked and have cars and credit cards
Dec 18th 2008, 1:06 pm
#152
Big Member
Joined: Jul 2005
Posts: 3,889
Re: what the F do you do if you get sacked and have cars and credit cards
We use Emirates Bank and had no major complaints so far.
Dec 18th 2008, 1:13 pm
#153
Forum Regular
Joined: Dec 2008
Posts: 127
Re: what the F do you do if you get sacked and have cars and credit cards
Research your industry. If it looks to be on solid grounds, it might be ok making the move (although there will always be the risk). Right now there's no telling how bad the Dubai collapse will be. This may be the worst period and we may end up having a soft landing after shedding the excess jobs (a lot of the companies went on pointless hiring binges for the past year or two, hiring people at high salaries to do not very much work. Those were the ones to go first). Or it could just be a harbinger of what's to come.
If you do come over, just don't enter into any contracts or financial obligations that would make leaving the country difficult. Don't buy a car and don't negotiate your own contract with a landlord. Have the company do all that for you, so if necessary you can just walk out the door and head straight to the airport with no financial liabilities.
My company is fine for now, but I do regret buying a car because if the worst comes, I'll lose the 25K down payment if I can't sell the car when I need to leave (the monthy payments are the same as the monthly car hire was, so no money lost there).
If you do come over, just don't enter into any contracts or financial obligations that would make leaving the country difficult. Don't buy a car and don't negotiate your own contract with a landlord. Have the company do all that for you, so if necessary you can just walk out the door and head straight to the airport with no financial liabilities.
My company is fine for now, but I do regret buying a car because if the worst comes, I'll lose the 25K down payment if I can't sell the car when I need to leave (the monthy payments are the same as the monthly car hire was, so no money lost there).
Well our UAE counter part is taking care of all that. I've asked him for a single room somewhere until I'm sure the UAE is the right thing for me. As long as it's clean, and the shower / toilet works it's fine with me. He will arrange the car and the medical package for me, as well as tickets when needed. Besides the first six to twelve months I'll be working my butt off just to get this wholesales joint venture up and running. So I don't want any commitments that would pin me down in the UAE.
Dec 19th 2008, 7:42 am
#154
Forum Regular
Joined: Dec 2007
Posts: 47
Re: what the F do you do if you get sacked and have cars and credit cards
Dec 19th 2008, 9:51 am
#155
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Re: what the F do you do if you get sacked and have cars and credit cards
Good afternoon guys
thanks for the replies and PM's - i will mail you back in a bit - Commander your a star and will be in touch via email.
We got the heads up from the company that the bank will be informed on Sunday so we have withdrawn everything - my new company are writing a letter to HSBC to tell them im getting my own visa and there will be a wage going in - i hope this will stop the 'freeze' and we can put the money back in the account - we are going to make sure the cars are paid for in January and then hopefully be in a better position with regards to work for hubby - everyone has been so kind - his managers have been putting a good word in with other companies so hopefully after christmas we will get some good news. He has been offered 3 jobs back in the UK but this is a last resort. We are going to try and sell one of the cars, mine
but its is excellent condition and very low mileage. Ive recently spoke to a bloke who sold his car, and got a good amount for it and i will take the financial hit - one less thing to worry about.
I dont want to restrict myself, i want to return back here and i think we can manage it.
Very lucky for me i have an excellent mother who is sorting out our affairs in the UK so it has given us a bit of breathing space.
Obviously my advice here to anyone is be very careful what you get tied into - you never know when it will come crashing around your head! One of our friends has just pulled out of his car purchase having seen what has happened to us.
again thank you so much for everything - even the negative bloke!
thanks for the replies and PM's - i will mail you back in a bit - Commander your a star and will be in touch via email.
We got the heads up from the company that the bank will be informed on Sunday so we have withdrawn everything - my new company are writing a letter to HSBC to tell them im getting my own visa and there will be a wage going in - i hope this will stop the 'freeze' and we can put the money back in the account - we are going to make sure the cars are paid for in January and then hopefully be in a better position with regards to work for hubby - everyone has been so kind - his managers have been putting a good word in with other companies so hopefully after christmas we will get some good news. He has been offered 3 jobs back in the UK but this is a last resort. We are going to try and sell one of the cars, mine
but its is excellent condition and very low mileage. Ive recently spoke to a bloke who sold his car, and got a good amount for it and i will take the financial hit - one less thing to worry about.I dont want to restrict myself, i want to return back here and i think we can manage it.
Very lucky for me i have an excellent mother who is sorting out our affairs in the UK so it has given us a bit of breathing space.
Obviously my advice here to anyone is be very careful what you get tied into - you never know when it will come crashing around your head! One of our friends has just pulled out of his car purchase having seen what has happened to us.
again thank you so much for everything - even the negative bloke!
Dec 19th 2008, 10:01 am
#156
BE Forum Addict
Joined: Apr 2005
Location: Melbourne
Posts: 4,553
Re: what the F do you do if you get sacked and have cars and credit cards
Glad to hear that!
You could also open an account with another bank (can arrange for it to be done in a day for you) and have your Dec salary transferred there if you wish... let me know.
You could also open an account with another bank (can arrange for it to be done in a day for you) and have your Dec salary transferred there if you wish... let me know.
Dec 19th 2008, 10:23 am
#157
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Joined: Mar 2008
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Re: what the F do you do if you get sacked and have cars and credit cards
Maybe this will all be okay afterall, i just have to make sure those car payments come out as usual.
thanks again IG - really very helpful!
Dec 19th 2008, 10:47 am
#158
If I have to explain...
Joined: Sep 2008
Location: Where ever the road takes me
Posts: 3,999
Re: what the F do you do if you get sacked and have cars and credit cards
Good afternoon guys
thanks for the replies and PM's - i will mail you back in a bit - Commander your a star and will be in touch via email.
We got the heads up from the company that the bank will be informed on Sunday so we have withdrawn everything - my new company are writing a letter to HSBC to tell them im getting my own visa and there will be a wage going in - i hope this will stop the 'freeze' and we can put the money back in the account - we are going to make sure the cars are paid for in January and then hopefully be in a better position with regards to work for hubby - everyone has been so kind - his managers have been putting a good word in with other companies so hopefully after christmas we will get some good news. He has been offered 3 jobs back in the UK but this is a last resort. We are going to try and sell one of the cars, mine but its is excellent condition and very low mileage. Ive recently spoke to a bloke who sold his car, and got a good amount for it and i will take the financial hit - one less thing to worry about.
I dont want to restrict myself, i want to return back here and i think we can manage it.
Very lucky for me i have an excellent mother who is sorting out our affairs in the UK so it has given us a bit of breathing space.
Obviously my advice here to anyone is be very careful what you get tied into - you never know when it will come crashing around your head! One of our friends has just pulled out of his car purchase having seen what has happened to us.
again thank you so much for everything - even the negative bloke!
thanks for the replies and PM's - i will mail you back in a bit - Commander your a star and will be in touch via email.
We got the heads up from the company that the bank will be informed on Sunday so we have withdrawn everything - my new company are writing a letter to HSBC to tell them im getting my own visa and there will be a wage going in - i hope this will stop the 'freeze' and we can put the money back in the account - we are going to make sure the cars are paid for in January and then hopefully be in a better position with regards to work for hubby - everyone has been so kind - his managers have been putting a good word in with other companies so hopefully after christmas we will get some good news. He has been offered 3 jobs back in the UK but this is a last resort. We are going to try and sell one of the cars, mine
but its is excellent condition and very low mileage. Ive recently spoke to a bloke who sold his car, and got a good amount for it and i will take the financial hit - one less thing to worry about.I dont want to restrict myself, i want to return back here and i think we can manage it.
Very lucky for me i have an excellent mother who is sorting out our affairs in the UK so it has given us a bit of breathing space.
Obviously my advice here to anyone is be very careful what you get tied into - you never know when it will come crashing around your head! One of our friends has just pulled out of his car purchase having seen what has happened to us.
again thank you so much for everything - even the negative bloke!
Dec 19th 2008, 10:55 am
#159
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Thread Starter
Joined: Mar 2008
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Posts: 759
Re: what the F do you do if you get sacked and have cars and credit cards
Ive never met any of you and everyone has offered to help so much, even opening bank accounts and giving me numbers to chat!
You are all fantastic!
Wishing you all a very happy, healthy blessed 2009 !
Dec 19th 2008, 11:00 am
#160
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Joined: Aug 2007
Posts: 7,646
Re: what the F do you do if you get sacked and have cars and credit cards
Back at ya Mrs.
Glad it's looking up for ya.
Dec 19th 2008, 2:05 pm
#161
Lost in BE Cyberspace
Joined: Dec 2006
Posts: 23,434
Re: what the F do you do if you get sacked and have cars and credit cards
I hope and I'm sure everything will be back to normal again soon...
Be strong and don't lose focus...
Dec 19th 2008, 5:07 pm
#163
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: what the F do you do if you get sacked and have cars and credit cards
i have been realiably informed today that if you decide to do a runner, that apparently you will not escape capture, and banks may use 'other means' to find you. there was also something about bouncing cheques and that banks may not throw you straight in jail, they may try to help you first give them back their money.
Dec 19th 2008, 5:41 pm
#164
Forum Regular
Joined: Dec 2008
Posts: 127
Re: what the F do you do if you get sacked and have cars and credit cards
i have been realiably informed today that if you decide to do a runner, that apparently you will not escape capture, and banks may use 'other means' to find you. there was also something about bouncing cheques and that banks may not throw you straight in jail, they may try to help you first give them back their money.
Dec 19th 2008, 6:26 pm
#165
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: what the F do you do if you get sacked and have cars and credit cards
yes i would say that was right in the past, but i think with whats been happening in the past couple of weeks, things are a changing and fast and they are changing the law regarding cheques etc