Resolving your debt in the UAE is important, even if you've left the country

Here are several reasons why paying your debt in the UAE is crucial, even if you have already left the country.

Avoid legal repercussions

Unpaid debts can lead to serious legal actions in the UAE, which can follow you even after you leave the country.

• International legal pursuit: The UAE has agreements with many countries, including India, Russia, Pakistan, Bangladesh, and the Philippines, for mutual legal assistance. This means that creditors in the UAE can pursue legal actions against you in your home country.
• Arrest warrants: If you attempt to return to the UAE or transit through its airports, you could be detained due to outstanding arrest warrants related to your debt.
• Travel bans: You might face travel restrictions, preventing you from re-entering the UAE or facing legal actions if you do.

Protect your credit score

Unpaid debts in the UAE can damage your credit score, which can affect your financial opportunities globally.

• Negative credit reporting: Many countries share credit information. A poor credit history in the UAE can impact your ability to secure loans, credit cards, and even employment in other countries.
• Difficulty obtaining credit: A damaged credit score can make it challenging to obtain credit or loans at favourable terms, both in your home country and internationally.

Prevent asset seizure

Leaving unpaid debts can lead to the seizure of assets you might still have in the UAE.

• Property and vehicles: Creditors can seize any property, vehicles, or other assets left behind in the UAE to recover the debt.
• Financial accounts: Bank accounts and other financial assets in the UAE can be frozen or seized by creditors.

Maintain employment prospects

Employers, especially in the financial sector, may view unpaid debts as a sign of financial irresponsibility.‍

• Job applications: Negative financial records can affect your job prospects, especially if your employment involves handling finances.
• Professional reputation: Your professional reputation could be tarnished, affecting your career growth and opportunities.

Ensure financial flexibility

Unpaid debts can limit your financial flexibility and opportunities for future investments.

• Limited financial services: You may face difficulties accessing financial services, such as opening bank accounts or securing loans, both in the UAE and abroad.
• Investment opportunities: Ongoing legal and financial issues can hinder your ability to invest in property, business ventures, or other financial opportunities.

Moral and ethical responsibility

Fulfilling your financial obligations reflects your personal integrity and ethical responsibility.

• Personal integrity: Meeting your debt obligations can positively reflect on your personal integrity and ethical standards.
• Family impact: Ensuring that your debts are paid can prevent stress and financial difficulties for your family.

How to address your debt

To manage and resolve your debt effectively, consider the following steps:

• Communicate with creditors: Reach out to your creditors to explain your situation. Many are willing to negotiate payment plans or settlements.
• Seek professional help: Organisations like Eltezam can provide support and guidance on managing and resolving your debt.
• Explore payment options: Utilise the various payment options available to manage your debt effectively and avoid legal repercussions.
• Financial planning: Work on a budget and financial plan to repay your debts and rebuild your financial stability.

How Eltezam can help

Eltezam offers various options to help you manage and resolve your debt. By exploring payment plans and receiving personalised support, you can take control of your financial situation and pay off your debt as quickly as possible. Our team is committed to helping you regain control of your financial situation in a stress-free manner.

By addressing your debt responsibly and seeking the right support, you can avoid the severe legal, financial, and social consequences of leaving debts unpaid in the UAE. Taking proactive steps to manage your debt can lead to a more stable and secure financial future, no matter where you are.