I am sinking under my debts and need help to restructure, consolidate and settle my dues as soon as possible. Ive been driven into this situation as I depend on credit cards to pay my rent of Dh44,000 on a villa in Abu Dhabi because my salary has not been rising. I pay the landlord in three cheques, and in addition I take care of my parents in India. I have loans as well and my wife is in the same situation. We took out the loans to settle some issues in India and because we defaulted on a card payment once, the credit card debt just started mounting. I signed up for my first credit card with an Dh8,500 limit in 2014. This was to sponsor my family. Then during every rent payment Id take out new cards. When I started being refused new cre…
Read the full article at: http://www.thenational.ae/blogs/your-money/the-debt-panel-abu-dhabi-resident-with-debts-of-more-than-dh350000-pays-his-rent-with-credit-cards