The Debt Panel: I haven t used my credit card for three years but the amount I owe on it is ballooning thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.
SHARE
I was working for seven years but lost my job in December 2019. I took out a personal loan of Dh128,000 while I still had a job and paid Dh2,671 in monthly instalments. When I was made redundant, my gratuity of Dh30,000 was used to pay down my loan.
I explained my employment situation to the bank and asked if it was possible to reschedule my loan and pay between Dh800 and Dh1,000 a month. However, they said they could only lower the instalments to Dh1,626 a month, which I cannot afford to pay as I am still looking for a job.
The Debt Panel: My loan repayments are now 80% of my salary thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.
However, the bank also wanted to freeze our joint current account and both debit cards, which we objected to as we had a credit card payment due in two days. If this was necessary, then why didn’t they freeze the main credit card?
To renew the blocked cards, unfreeze the current account and regain access to internet banking, we were told that we had to sign an indemnity form. I refused to sign it due to its unreasonable terms, which included a point that I would undertake to sign and enact any document that the bank presents to me in the future. Several bank representatives told me that it was standard, had been drawn up by the bank’s lawyers and could not be amended.
The Debt Panel: It s been two years and my bank has still not acted on a scammer who raided my account thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.