Indian defaulter with Dh1million debt works out Dh25,000 settlement plan to return to Dubai ...United Arab Emirates

Dubai: For more than seven years, a former Dubai resident’s credit card debt ballooned to more than Dh1 million. However, after negotiating with the bank and with the help of a finance expert, he succeeded in working out a consolidation package whereby he will now be paying only Dh25,000 to settle his liabilities. The defaulter is an Indian national who had first arrived in the UAE in 2008. He initially worked as a clerk and through sheer hard work was able to save money and started his own business in 2012. However, following a series of unfortunate events, his company went bankrupt. He started taking loans and defaulted. He also maxed out his credit card. Debts and other liabilities piled

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