PERSONAL LOAN AND WORK TERMINATION
By rkrajmohan •
I have taken a personal / Car loan from QNB for 350,000/- QAR for a period of 4 years. I have been paying the EMI regularly for the past 7 Months.
My company terminated me within eight (8) months from arrival in qatar and giving the NOC and letter for visa unblocking, I got better offer and joined new company.
My sponsorship transfer was submitted to Labor office, it was rejected due to the i am stayed in Qatar less than one year.
My new employer said, exit from country and coming back their visa.
The problem now is, I need to prepay the loan to get a final exit. I cannot prepay bcoz I don't have the funds & cannot borrow.
Please advice
Regards
Raj
Ask your previous company to provide at least Iyara (to work for 6 months to your new employer). Without this your visa will not be transferred to any company. And you should continue paying your loan monthly. if you skip paying for 3 months. bank will file a travel ban for you. Or talk to credit collection department and they will help you in this regards.
How come you get a big loan in the first month of employment itself? What is your passport and who is your wasta?
Normally banks do not deal emotionally..
They will put travel ban if you explained your situation to them..
No one else in this world except your parents will guarantee debts of QAR 350 k to the bank..
Your new sponsor isn't tell you the truth. You cannot get a new visa within 12 months, whether through transfer, or through cancellation and a new application.
Try to find a guarantor. Or sell whatever you spent the 350,000 on and use it to repay what you owe for the bank. You will not be able to leave the country until you settle the loan. There is no magic solution unfortunately - whatever you borrow you must return.
You must asked this advice before you get loan from bank or from QNB risk assessment department..Still you can go and ask the same bank risk assessment department...what you are waiting for.....??
Syed atif advice seems to be the best for you ..
You came to Qatar just for taking a huge loan with low interest ?
You took QAR 350k loan in the first month itself after landing in Qatar ?
Oh noo...
Dear, you dont have to exit bec transfering of visa either u r here or out is the same. Before one year you cannot transfer your visa. As you already have NOC you can take IAYARA (6 months work permission) from your present sponsor and work for new sponsor. After you fin 6 months u r eligible for your visa transfer. Better consult any PRO also. All the best.
I don't want to sound bad but honestly, you have been here for 8 months and you have already 350k in loans? And for a car for goodness sake? Guess what, you deserve what's gonna happen to you because you are just an idiot.
Please visit your QNB branch in person with your new offer letter & explain them the situation that your new work permit can only be done after you exit Doha & re-enter using the new visa. In the mean time keep funds in your account for at least 1-2 months EMI.
As mentioned above, the bank may ask a guarantee letter which your new employer can easily provide or any of your friend who has a descent salary & works with a listed employer in QNB's list of approved companies.
Probably a person guarantor will work here. you need to get one of your friend who can guarantee that you will pay then you can sort this things out with Bank.
Your decision to take a quick HEAVY LOAN immediately after landing was very wise ........... but who knew that those unplanned events may take place ....................... QNB should allow you travel to your country ........... You have trusted them now it's their turn to trust you ....... !
KJ , Your advice is good , it goes in the favour of our friend ...........
BETTER U CAN GO LABOR COURT
,THEY WILL GIVE YOU TIME AND WHEN U FINISH UR LOAN UNTIL U CAN WORK OTHER COMPANY
THEY WIL PROVIDE PEPPER