Termination of service with bank loan remaining
By Extinguishar •
I work in a government organisation under ministry of defence. I had 90000 Riyal loan from QIB. I have some trouble at my work. They are planning to end my services. I want to ask if suppose they terminate me, what will the bank do in order to in order to get its payment back?
What about the fees which i payed for insurance while taking the loan. Will not they help something by paying the remaining amount to the bank.
In Our Company There was Same Situation with One Person..He Was Terminated from His Job ... Then he ask for NOC because He have no money to pay for loan. And He Got NOC now he is doing job in another company and also he paying his loan also every month.
The sponsor will not cancel the RP until receiving a bank letter stating that there are no outstanding liabilities. So if you owe money on a loan you can't leave until its is settled. Best to borrow money from friends/family to pay it off, or you might get arrested for being a loan defaulter.
There is nothing you can do to avoid paying back the money.
But what will happen to the balance loan amount, which will be there after all money recovered by way of final settlement, freezing of a/c
Will the bank allow him to leave the country with unpaid loan???
if u r not having money to pay pls tell them to take the car and close the account, or give the for sale at qatar living and if sold fopr a good price pls close the loan and give the car to the new person. if u are in doubt pls start doing now itself
Company will transfer all your end of service and final settlement of salary to your bank a/c. and will give a notice to bank you are terminated from job. So the bank will freeze your account and transfer the proceeds to Loan settlement.