I am currently living in Italy, the bank offered me to restructure the debt as long as I can give a guarantor in the UAE and come back to sign ”paperwork” to Dubai . Of course in JAIL! i got very upset, almost sounded like a joke. Please let me know what can be done under EU legislation on debt , I imagine they can maybe sell of the debt but it would be under the countries laws on debt instead of Dubai’s dracononian middle aged laws.
My advice would be not to return to sign anything or provide a guarantor; why place yourself in a position where you may be jailed and why bring someone else into this? You can always inquire with the local authorities there to see if a warrant has been issued against you.
Since you are living in the EU, short of the debt being sold on to a collection firm in the EU, there is little the bank(s) can do against you. However, if the account(s) are sold on, you may wish to inquire in Italy about their laws regarding debts and debt collection practices.
Jon Emge is an experienced UK debt advisor who has helped thousands and thousands of people in the UK to deal with problem debt. Jon specialises in finding good solutions for problem debt using a variety of UK specific techniques.
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