defaulting loans
My roon mate , a SRILANKAN was taken a loan of 200,000 from Doha bank and gone on vacation.
He has not returned due to serious family comitments and what shall happen to his loan. He has contacted me to discuss with the bank but I need some advice from a knowledgable guy before going to the bank.
Will I be liable in anyway because of my association with my friend. what would be my friends position if he defaults the loan?
pls advice.
I heard a story (can not vouch for its authenticity) of someone who run away leaving a significant amount of loan here.
For years nothing happened to him at home, until one day he transit in Dubai on his business trip to the US and the police is waiting for him. Got detained until he agreed to pay of the remainder of the loan plus interest and penalties.
Hopefully your friend will not experience the same.
A loan is a debt. If you take it, it is your responsibility to repay it in any way you can. In Islam (intentionally) unpaid debt is one thing that can put a barrier between you and the paradise....wallahua'lam
Cheers
SK
"katas ng qatar"
What a fool . Of course you would not be liable.I am sure the bank would LOVE to make you liable but you are fine. regardless of the "serious family matter" of your firend he should have made arrangements to pay back his loan in case he is not here in Doha. This whole situation sounds of cheat to me. I am sure he is sipping MaiTai's or Margarita's on some beach in south Sri Lanka somewhere as I write this.
They can file a legal action in Srilanka , how?please explain someone knows about it, and what about the vehicle loan taken by the people and they gone back with reason loss job and all.
he can call doha bank for arrangements if not they can file a leal action in sri lanka also if he come back here he will go straight to jail
thanks guys,
My friend is a good fellow he wants to pay back the money.but no way of sending money back from SR LANKA because of exchange control restrictions.
will the doha bank take legal action against him back in SR LANKA ? Or can the Doha Bank Insist on repatriation of him back to qatar to face jail ?
If your friend is STILL COMING BACK...no problem. It'll be hard for him when he comes back though, as the bank might take all his salary (for a couple of months) until he's updated with his loan payment.
if he's not coming back...tsk tsk tsk LinconPirate is right, you're friend is a clever fellow...hehehehe
what will the bank do with my friend's loan ???. I need to advice him properly with out involving my self with the bank.
Your room mate is more clever than you.
You would be liable only if you would have taken his gaurantee in the bank before your friend left.
Now going to bank for any kind of discussion will not be any problem for you just dont sign any gaurantee form in any case, or else you will be liable to pay the loan if your friend dosent come back.
if not...you got no problem...