As part of ‘The Debt Panel ’, The National published an article about a couple who borrowed AED 900,000 from family and friends and now they want it back. The couple, who have returned to Sri Lanka with their two sons, do not know how to resolve their financial crisis.
“My husband worked in the UAE for 12 years and I joined him seven years ago after we got married. Last December, he was unexpectedly terminated from his job as a sales executive, which paid Dh5,500 a month. Now he is back in our home country with me and our two little boys. We are pretty helpless as my husband has built up Dh900,000 in debt that he owes to friends and colleagues. I really don’t know how he ended up owing so much. There may even be a police case against us and as a wife and mother, I am totally destroyed by this situation. The problems started because he felt the UAE was the “land for business”, so he borrowed Dh200,000 from a friend.”
Here is what Ambareen Musa, one of the debt panelists and Founder & CEO of Souqalmal.com, had to say.
Now that your husband is back in Sri Lanka, he must find a job as soon as possible. Since you are out of options and have already liquidated your savings, the best solution would be for both you and your husband to find jobs that can help sustain your family and repay the debts one at a time. In the meantime, ask your husband to keep an eye out for employment opportunities in the UAE, since these will most likely pay better than a job back home.
For full article go to The National