iggle

Simple question

You have a 1 bed flat at 95K per year. Your tenancy is coming up. You have the cash (that's not an issue - nor are you worried about your job)

Do you;

1) Pay the rent up front (yourself)
2) Get a loan of your company (interest free of course) and have it deducted monthly from your salary
3) Get a loan from a bank (with interest), deducted monthly from your account but full pay from company
4) Split the cheques and 50 / 50. Ie pay half yourself, get a loan of ano (bank or company for the other half)

What say you

Millhouse

There is only one option here. 2

Cypselos

Haha. Tell that to the companies I've worked for.

iggle

Just to clarify, the one option you will take? Or the only option available.

In all honesty, i hated owing my company such a large sum. I felt imprisoned and in debt to them. I would of left my nasty job alot sooner if i wasn't in such a situation. Im leaning toward option 4 myself.

norsk

If you only need 95K then surely clearing it if you want to leave wouldn't be a massive issue. Having a bank loan and leaving your job is a huge pain - your account will likely be frozen upon payment of final settlement (yes even if the settlement is larger than the amount owed)..

2 would be my choice. Or 4 if you want to limit the exposure..

NorthernLad

Pay upfront yourself and its done with.

If you have no worries about you job, then it's fine.

I've yet to personally meet anyone who is not worried about their job here (and that has always been the case), things can change very quickly and some people understand that.

For me, I pay four cheques over the year. I'd rather have the money in my account than the landlords if I lose my job.

Millhouse

I am not worried about my job.

DXBtoDOH

Because you're already *****ed?

Millhouse

If I was presented with all these options then I would take 2. I did find myself in that position once and I took it.

I now pay myself on a negotiated 4 cheques. Also completely fine.

Being in debt to a company is no big deal. Especially if you have the money already (like you said).

mission

it's gotta be option 2
why would one want to pay out of their own pocket, when you can easily get an interest free loan from your company and pay the rent over 12 months.

Millhouse

sometimes in life you are the pigeon, sometimes you are the statue.

Meow

If you are self-employed you pay it yourself. Even in the bad times I'd rather be wholly reliant on my own efforts, or perhaps especially in the bad times.

iggle

logically, loan from company is best.

Interest free loan - perfect.

If you can pay via mutliple cheques and not to much of an increase in rent even better.

Time UAE turned to monthly direct debt billing though.

Meow

Direct debits as a method payment were supposed to be an option in the UAE from summer of last year following various announcements. Not a word about them for a couple of years now and I can't see that changing for some time.