Dubai Debt Help

[unclebulgaria67]

Sorry unclebulgaria67, I misunderstood... I see what you mean now. The total debt that I owe is split between 3 lenders. Citi are only chasing for a credit card debt which is a fraction of what I owe that totals in the region of 100,000 Sterling.

 

The loan I used for this investment was from one of the other lenders not Citi. To be honest the bank that I had the loan with for the investment have been respectfully quiet, no threats and only one email from a 3rd party debt company (the same Citi bank use) I think I recall the name as bilkash or something similar...

 

In the UK when there is an investigation ongoing about possible fraudulent transactions taking place, there is a list that is distributed to compliance managers, with markers placed on any accounts, so they can be monitored. It may work in a similar way in Dubai.

 

You would probably be best to not add any more details to this online forum and to let your Solicitors deal with these debt issues.

[DELL1981]

thank you for your concern I hope someone is monitoring my account so they can see it isn't fraud... And I'm not running from the problem, I want to pay... We are starting to go off topic a little, I'm hear for advice and if anyone in a similar situation can chime in then great... The other part is the threat or reality regarding the red corner notice and what the rep from citi bank quoted... I'm not an international fraudster, I'm a guy who lost there job in Dubai made a bad investment and wants some impartial advice before I speak to my solicitor tomorrow

In the UK when there is an investigation ongoing about possible fraudulent transactions taking place, there is a list that is distributed to compliance managers, with markers placed on any accounts, so they can be monitored. It may work in a similar way in Dubai.

 

You would probably be best to not add any more details to this online forum and to let your Solicitors deal with these debt issues.

[unclebulgaria67]

You may obtain more responses from others in the same kind of position from ex-pat forums.

 

I have gone slightly off topic about possible fraud and the monitoring that you may be subject to, as your first post suggested that you took out loans for some form of investment that turned out to be dodgy. Perhaps you are not the only person in Dubai in this position ? I suspect that if these loans are linked to these dodgy investments, that the people taking out the loans may be subject to investigation.

 

It is probably best to work with a Solicitor to find out the score with these debts, so you can do what you do need to do. If you are ever taken to court in the UK, at least you can evidence that you are dealing with the creditors and are not in hiding.