How can expat pay credit card dues from home country after residence visa cancellation
Hey there, it seems like you’re ready to take off on a new adventure and head back to your home country for good! And while we’re sad to see you go, we’re here to help make the transition as smooth as possible. As you may know, the Central Bank of the UAE has certain guidelines for closing bank accounts and loan agreements, and we want to make sure you’re in the loop. So, based on your recent inquiries, it looks like you’ll be saying goodbye to your residency visa and hello to a new chapter. And don’t worry, we’ll make sure everything is taken care of according to Notice No. 3692/2012 and the Emirates Bank Association’s General Terms and Conditions.
How can expat pay credit card dues from home country after residence visa cancellation. Uh oh, trouble may be on the horizon for those who hold credit cards and struggle to make their payments. According to Article 4(4) of the Personal Loan Agreement format of Loan Agreements Formats Approved by the Central Bank of UAE, missing three consecutive monthly payments or six non-consecutive payments may be deemed an event of default. And trust us, you don’t want to be in default. This means that the loan becomes due and payable immediately, including all installments, interest, and fees, without any warning or court ruling. Yikes! The bank has the right to take action in accordance with the law, so it’s best to stay on top of those payments and avoid any unwanted consequences.
According to the law, you’ve got to cough up those installments to your lender, or you’ll be in hot water. If you fail to pay up on your credit card, your lender could drag you to court and sue you for the outstanding amount plus extra fees. And if the judge doesn’t side with you, things could get even worse – your lender may take things to the next level and request that your travel privileges be revoked and even issue an arrest warrant against you. Don’t let that happen – pay up on time!
How can expat pay credit card dues from home country after residence visa cancellation If you’re leaving the UAE and you’ve got a credit card, you’ll need to give your lender a heads-up. But don’t worry, it’s easy-peasy. Just let them know you’ll be jet-setting abroad and won’t be returning to the UAE anytime soon. And to make things even smoother, why not tell them you’ll be settling your credit card payments like a boss before the due date? That way, you can focus on soaking up the sights and sounds of your destination without any pesky financial worries.
How can expat pay credit card dues from home country after residence visa cancellation. Are you tired of feeling lost and confused when it comes to paying off your credit card debt? Well, fear not! The lender is here to guide you through the payment process. Once they accept your proposal to pay the due amounts from your home country, they’ll provide you with a variety of payment options. You can pay off your credit card installments through your other bank account in your home country, or you can choose to add some excitement to your life by having a telegraphic transfer (TT) made from a bank or financial institution in your home country directly to your credit card account. Either way, make sure to notify your lender about the payment method you choose. Let’s make paying off your debt a little more interesting, shall we?
Are you ready to finally break free from the shackles of credit card debt? We’ve got a pro tip for you: once you’ve made all your payments to the lender, make sure to snag yourself a clearance letter or no-due certificate. Trust us, it’s the ultimate cherry on top of your financial freedom sundae.
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