That is realy sad what happen to your friend, I also experience that, I lost my job and still have payables on my credit card.

I do have insurance coverage for my credit card. my bank told me that it is good to have an insurance for my card which if any thing happens to me it will cover all outstanding liabilities, even when you lost your job.

And this bank is also my employer so I got the insurance coverage which charge me 10 riyas per month and the credit card is also with this bank and also the insurance company.

now when the company retrenched us I am not worried becaused I have an insurance for the card. so I dont have to pay it anymore because I lost my job right.

well wrong because it is stated that the Insurance will only pay if I lost my job without anyreason. what the bank did because they gonna cut many employees they made a reason that we did poorly on our raiting so that they would not soulder any of the outstanding debt we have.

So be very careful dont be swayed by the sales talks of the banks readcarefully the detailes because u may be paying for nothing.