Man with Dh1.1 million debt in Dubai gets Dh25,000 settlement deal

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Man who fled Dubai with Dh1.1 million debt gets Dh25,000 deal

 

DUBAI – An Indian man who fled Dubai after racking up a credit card debt of Dh1.1 million was able to get a life-saving settlement deal allowing him to pay off his total debt for only Dh25,000, according to a report.

The Indian man, a clerk who later opened is own business in the UAE, was forced to leave the country after his business went bankrupt in 2012 and he could no longer pay off his growing debts, according to Gulf News.

With the help of a Dubai-based law firm, the former Dubai resident was able to negotiate a settlement deal of only Dh25,000, according to the report.

Payment of the settlement fee made his total debt “fully and finally settled”, and will allow him to come back to the UAE, his lawyer said. ICA/Expat Media

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