what the F do you do if you get sacked and have cars and credit cards
#91
BE Enthusiast
Thread Starter
Joined: Mar 2008
Location: all over the place
Posts: 759
Re: what the F do you do if you get sacked and have cars and credit cards
his background is in electrical distribution systems. drop him an email - alan is asking where you working? I cant remember?!
#92
Re: what the F do you do if you get sacked and have cars and credit cards
Commander what about the mob you used to be with?
#93
BE Forum Addict
Joined: Jun 2008
Location: Abu Dhabi by body and Sydney by soul
Posts: 1,841
Re: what the F do you do if you get sacked and have cars and credit cards
Mrs Haps
Hope you're doing ok today and getting to grips with a plan?
Hope you're doing ok today and getting to grips with a plan?
#94
BE Forum Addict
Joined: Aug 2007
Posts: 3,287
Re: what the F do you do if you get sacked and have cars and credit cards
Yeah I think the plan has been well established by previous posters
Plan A: Get another job pronto
Plan B: Get the fak out of the UAE as quick as possible
Plan C: Go to jail. Go directly to jail. Do not pass go. Do not collect £200.
Plan A: Get another job pronto
Plan B: Get the fak out of the UAE as quick as possible
Plan C: Go to jail. Go directly to jail. Do not pass go. Do not collect £200.
#96
Re: what the F do you do if you get sacked and have cars and credit cards
Admon, you crossed the line.
You... you you LINE CROSSER!
You... you you LINE CROSSER!
#97
BE Forum Addict
Joined: Jun 2008
Location: Abu Dhabi by body and Sydney by soul
Posts: 1,841
Re: what the F do you do if you get sacked and have cars and credit cards
Someone needs to give you a damn good admonishing.
Last edited by al dente; Dec 18th 2008 at 9:07 am. Reason: sloppy typing skills
#101
An off topic question...
Some general advice for all those in debt (personal loans, auto and credit card debts) and your job is shaky. I am not going to sugarcoat the potential risks simply because I would rather you be safe than sorry:
1.Firstly – Keep some (in fact a lot) of emergency cash and withdraw most of the salary - only keep a bare minimum in the account into which your husband’s salary is transferred. I cannot stress enough on this.
2.The scale of retrenchments and the resulting problem of potentially massive bad debts is unprecedented. Banks are not used to this and will be prone to some really rash/knee-jerk reactions. I do not expect most banks to listen and be reasonable – unfortunately, they will be merciless when they see little hope of recovering debt. And debtors have little protection here, unlike the US/UK… it is a jail term. Therefore, I believe that some of the advice given above (which I cannot repeat for obvious reasons) is unorthodox but very practical in the circumstances. You can return to your home country and then negotiate a debt reschedulement. There is no chance of that happening here, as once a case is filed then you are stuck in Dubai and it is a vicious cycle thereafter.
I will pm you some specific advice later this evening
EDIT: And start SAVING LIKE CRAZY...
1.Firstly – Keep some (in fact a lot) of emergency cash and withdraw most of the salary - only keep a bare minimum in the account into which your husband’s salary is transferred. I cannot stress enough on this.
2.The scale of retrenchments and the resulting problem of potentially massive bad debts is unprecedented. Banks are not used to this and will be prone to some really rash/knee-jerk reactions. I do not expect most banks to listen and be reasonable – unfortunately, they will be merciless when they see little hope of recovering debt. And debtors have little protection here, unlike the US/UK… it is a jail term. Therefore, I believe that some of the advice given above (which I cannot repeat for obvious reasons) is unorthodox but very practical in the circumstances. You can return to your home country and then negotiate a debt reschedulement. There is no chance of that happening here, as once a case is filed then you are stuck in Dubai and it is a vicious cycle thereafter.
I will pm you some specific advice later this evening
EDIT: And start SAVING LIKE CRAZY...
I've been told as a US national I wouldn't be very welcome on this board, but I have been visiting this website a very long time now. So risking the chance of being kicked off strait away I thought I'd ask a few questions. I'll understand it if you won't reply, and apologize for breaking any, to me unknown rules on this website in advance. At the moment I live and work in Europe, and a few months ago I started up the paperwork in the USA to meet the requirements of a UAE residency visa which is basically finished now. What caught my interest is your remark "minimum balance on a bank account". The terms of my employment contract stipulates that housing expenses, car, insurance and multiple airline tickets are provided for by my employer. So there would not be a need from my side for personal loans or credit cards. As for credit cards I prefer to keep my European ones actually. So my questions are :
(1) What is this minimum balance you are referring to? In my case +/- 30.000 AED would be paid out in the UAE, the rest directly into a European account.
(2) If this minimum amount applies to me as well, is there any legal way of avoiding this? It actually scares the hell out of me being forced to leave money on a UAE account. I would prefer telex transferring the plus balance to Europe every end of the month. All I would require from my UAE bank is an ATM card and internet banking facilities.
(3) Do UAE banks give the full package strait away? I mean ATM card and internet banking facilities once you open an account? Or is there a waiting time for this?
(4) Can I make transfers in Euro's?
Once again, any help or info is appreciated. With all the doom scenario thinking going on I'm seriously starting to get second thoughts about moving over to the UAE. I'm into wholesales / logistics myself, not construction or construction related work and would be based in Dubai.
Thanks in advance,
USExpat
#102
Re: what the F do you do if you get sacked and have cars and credit cards
welcome to BE, you don't have to be British to use this board