Citibank in Dubai Wants Blank Cheques From Me to Repay Debt. – James
 | By Steve Rhode Ask me your question. | Click on the star rating below to rate this article.
|
“Dear Steve,
Having left the country due to losing my job in the early part of the year (a common occurance in Dubai!). However I had left about 40,000 AED of debt on my Citi Bank credit card. I managed to make payments till July but had not paid for 3 months. Fortunately I have kept constant contact with them and they seem to be quite willing to give me an option to make these payments back without sending me to jail!
This I hope I can sort out but they do want this in the form of 12 cheques. However I spoke to my bank and they appear to have cancelled my bank account. I came back to this country with the intention of first getting my debt in order as well as my life. It just is so complicated I fell like giving a two finger salute and getting back on a plane.
Really want to understand what happens if my bank account is cancelled. Lloyds have a policy of 25k AED minimum per month salary to open an account. Is this a common thing with all the banks now? If they do close my acount and I need to get another one any advice who is easy to get sorted quicky? As I need to have cheques to make an arrangement with Citi Bank it presents a problem with me paying it back.
Thanks in advance for your advice. I realise it is not only me going through this and I wish all those luck who may be going through a similar situation.
James”
Dear James,
Based on your spelling of Cheques and realise I assume you are somewhere back home in Europe and probably the UK.
If your attempt is to repay this debt but you are not returning to the UAE at this time, to avoid arrest or because you don’t have a job, then I think alternative arrangements can be made.
If you can afford to make the first twelve payments of about £546 then I would send the first payment to Citibank UAE via an international wire transfer from you bank back home. This will show your intent on promptly repaying the debt and you can then explain the bank situation to them. If you are unable to get an account opened soon then just keep making the payments to them from the account back home.
There is no requirement that any bank open any account for anyone.
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
Big hug.
P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Source: Citibank in Dubai Wants Blank Cheques From Me to Repay Debt. – James
Other Related Articles to Read
Do You Have a Get Out of Debt Question You Want to Ask?
I'm happy to answer any question you have about how to get out of debt, as honestly as possible by sharing with you my experience and truth that I learned from helping thousands of people to get out of debt. Don't be shy, if you need help, ask now, click here.And if you want to follow the latest questions and answers, just subscribe to my site RSS feed or get the email newsletter for free.
Comments
No comments yet.
Leave a comment