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Government Debt Settlement Fund to Release People From Jail Over Debts

Previously I published information about the new government sponsored debt settlement fund in the United Arab Emirates. New information has come to light that will be very helpful for people currently being held in jail because of financial problems.

GulfNews.com is reporting:

The initiative aims to settle the personal loans of less than Dh1 million for UAE citizens who are currently in detention, pending trial or convicted because of their debts.

Banks will settle their debts through installment schedules determined by the courts.

Those who are in prison will be released and have their loans settled in accordance with specific settlement mechanisms, including deduction of 25 per cent from their monthly salaries, with undertakings not to borrow again until the loan is settled. – Source

For those currently helps in Dubai or the IAE for debts, please inquire about release under the “Citizens’ Debt Settlement Fund.”

If anyone has contacted the fund and found it to be successful in resolving UAE debts, please post a comment below.

Government Debt Settlement Fund to Release People From Jail Over Debts
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Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • http://www.12monthloans36.co.uk/ 6 month loans

    The initiative aims to settle the personal loans of less than Dh1
    million for UAE citizens who are currently in detention, pending trial
    or convicted because of their debts. this is only for the local who anyways dont suffer , its the expats who are in trouble and in jail This clears my confusion.

  • guest

    What about going back to UAE particulary in Dubai for work. I’ve worked there before for about 3 years and left due (did not re-new my contract) to my employer did not agree to increase my salary. I’m paying my CC almost regularly but since i left, my balance is just about 5T dirhams from 30T. Now my question is….Is there a way to know whether im blacklisted or not or… will immigration from the dxb airport send me back to my origin or will they jail instead….to anyone who is free to answer and give light to my question…thanks in advance… 

  • Imran Rabbani

    Dear this is only for the U.A.E Nationals if you read the whole article. Please do not post incomplete information. I am here is U.A.E and completely aware of this Debt Settlement fund which is only for U.A.E Nationals.

  • http://www.12monthloans.co.uk/ 12 month loan

    “The initiative aims to settle the personal loans of less than Dh1
    million for UAE citizens who are currently in detention, pending trial
    or convicted because of their debts.” This clears my confusion.

  • New Yorker

    this is only for the local who anyways dont suffer , its the expats who are in trouble and in jail

  • Mmzafar

    According to the referenced newspaper article it’s for UAE nationals only (a minority of the UAE’s population with a much higher income bracket)

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