The Debt Panel: Former Dubai executive struggling to repay Dh380,000 loan following job loss – The National

I left Dubai in April last year after losing my job as a compliance director in the financial sector a couple of months earlier. When I left I had an outstanding loan of Dh380,000 and contacted the bank to inform them about my situation. I asked to reschedule the monthly loan payments into smaller amounts as my salary in Europe is much smaller. The conversation dragged on for five months, by which time I had outstanding / delayed payments. Eventually, the bank’s collection officer agreed to me making some payments and I was promised there would be no police case. He also said he would help me reach a settlement on lower payments. However, a week after making a payment, he cal…