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I’ve Been Good About Making My Payments But They Are Threatening to Sue – Nasir

By on November 18, 2016

Question:

Dear Steve,

I have FGB credit card,the limit is only 9000 aed and I have it from almost 7 years, and last 3 months I haven’t made a payment because of no job. They are emailing me that if I didn’t make a payment the will file a case, they just email me not even calling. I just want to know for how much amount they can file a case against me because it’s only 13000 aed, they are sending me also a lawyer paper.

Nasir

Answer:

Dear Nasir,

Much of what is happening at the moment is triggered by your borrowing agreement and the bank process.

When certain milestones are met, banks have a collection process and accounts just flow through the collection queue.

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I would suspect the bank is well within the terms of the agreement you signed and/or was updated while you’ve had the FGB credit card. This agreement will dictate the types of actions the bank may take if the loan defaults.

You are faced with two issues here.

First, it appears you have not been in communication with the bank to explain your current situation. Communication can help you to negotiate some sort of solution other than the default approach.

Second, you said you are unemployed at this time. That certainly complicates your ability to pay and if you can’t pay, well, then you can’t pay.

When anyone in any country is facing a legal threat I always recommend that people secure the services of a legal representative if they can. When you are dealing with what is or is not legal to do, there is no way to know without the assistance of a lawyer who is licensed to practice law in that jurisdiction.

Absent the ability to have a lawyer advise and/or defend you the best options will be either to pay the amount delinquent or to negotiate a mutually agreeable solution to you and the bank.

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To you this is a very stressful and concerning issue. To the bank and legal firm this is just another account in the queue to deal with. If you just try and hide from it the process will move forward without you and a case will probably be filed. You must do something to intervene or just accept the outcome.

But your situation highlights the universal problem with credit agreements. The agreements are absolute and expect payment every month. Unfortunately life isn’t as predictable.

About 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.

One Comment

  1. Nasir

    November 18, 2016 at 10:30 am

    Answer posted.

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