Bank Loans for termination/resignation
By thenoble_221615 •
i got a loan from one of the banks here in Qatar and i have my credit card too, my question is... what will happen to my loan in case i resign or in case my employer has terminated my services? how about my credit card? will they force me to pay?
will i be able to leave the state of qatar? i mean will i be able to get an exit permit?
please advice ASAP...
Pay back the loan.. Banks are not a charity opened for your benefit
based on my company's experience, before you get terminated or cancelled, the bank should be informed that you're leaving. if you're clear with the bank, they will submit a clearance paper to your company that you are clear from all debts.
pay everything before you leave...
Pay up you thief!
As soon as you resign or get terminated... the bank where your Salary is deposited is informed....
The Bank can hold you in the country till you pay up....
banks here don't like losing money, if you have a loan they insist on you giving cheques for the full amount, undated so that they can report you to the police for default even if one riyal is involved. I remember that one of our managers was threatened with a report to the police by the bank because his rent cheque was 500 QR short. This is a guy earning 50K+ a month! of course he could sort it out immediately, but what mentality is being reinforced here. These guys have no humanity, they are charging people 12% for a loan and giving me 0.02% on my deposit account! Everything here is based on no loss mto the banks, no wonder we cheer when someone beats the system! How much have they lost to people sucked into the stock market and property bubbles, all gone! Better to get it back from you and me! If it is substantial amount your company will report your resignation to the bank, they will immediately block your account and exit from Qatar. Then you will stay here with no legal way to earn money until someone pays off the sharks! Look at previous posts on this!
If you're terminated from your employer and you have the credit shield then the insurance will pay your remaining credit card balance. As for the car loan, you have to sell your car and pay off your car loan.
For personal loan, you have to find another job and pay off your personal loan too, or else you will be issued a travel ban and you cannot leave the country. But don't worry, there are a thousands people who have similar cases like you...
how many such cases are there??..i think its high time that i take all my money out of the banks here and put them under the mattress because banks are going down sure..;)