If an employee has a car loan and still did not finished paying the installment and his employer cancelled his working visa what will happened to the loan? The employee can go home or not?
it depends...if the salary is transfered to the same bank....the company is the one liable for any liabilities he gets from that bank.Because in the salary transfer letter there is an undertaking regarding liabilities of the employee....Anyways the next option is to just return the car to the bank.But if the loan is granted by a different bank...its an unsecured loan any time he can go out of the country....and ask any trusted friend to return it to the bank.....problem is when he ho back to qatar immigration problem is waiting.
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as ived told in my reply novita...it depends where he gets his car loan...im working in a bank...i know whats the policy..
it depends...if the salary is transfered to the same bank....the company is the one liable for any liabilities he gets from that bank.Because in the salary transfer letter there is an undertaking regarding liabilities of the employee....Anyways the next option is to just return the car to the bank.But if the loan is granted by a different bank...its an unsecured loan any time he can go out of the country....and ask any trusted friend to return it to the bank.....problem is when he ho back to qatar immigration problem is waiting.
I thought bank will repossess the car...then he can resale it with a price equivalent to the balance of the loan..?
WTF.. it will be solved in the police station
The employee can not go home till the car loan is paid.