The Debt panel: Graduate struggling with university debts after job loss from multinational firm – The National

I owe the banks almost Dh180,000 and was paying properly until 2016, when I lost my Dh10,000 a month job at a multinational company. I struggled to get another job for four months before eventually joining the insurance sector to secure some income. While I was unemployed, I used savings to make my repayments. I signed up for the credit cards to make online purchases and for the loan to clear fees from my degree; some of it was also given to my family. In total I owe:

Loan 1: Dh90,000

Credit card 1: Dh60,000

Credit card 2: Dh20,000

Credit card 3: Dh7,500

Total: Dh177,500

I now earn Dh6,000 and stopped repaying my loan and credit card 1 in July last year and the oth…