As part of The Debt Panel, The National published an article on a pilot who is unable to repay a bank loan of Dh 400,000 and is now being threatened by the debt collectors.

I was an airline pilot in the UAE and had to leave suddenly a year ago due to unforeseen family commitments. I left with an outstanding loan of Dh400,000. I am now in Thailand as my wife is Thai and I am earning a salary of about 70 per cent of the basic income I was earning in the UAE. I did not pay the loan back for two months because I was unemployed for a while. Now the UAE bank that lent me the money is asking me to pay Dh30,000 a month for 10 months and have sent debt collectors. They have contacted my wife via Facebook and threatened all sorts. I had already paid back Dh100,000 as an initial payment, however as I was pressured I accepted a settlement that in reality I can afford to pay back.

Here is what Ambareen Musa, one of the debt panellist and founder and CEO of had to say.

Unfortunately, debt collectors have come under scrutiny too often for using pressure tactics and threats to recover money from borrowers. You can complain to the bank about the harassment you’re facing from such recovery agents. But to make sure the problem goes away for good, you will have to find a way to negotiate a loan settlement with your bank.

Here’s what you can do to remedy the situation. The ideal solution would be to get in touch with the bank directly to renegotiate the terms of your loan. Since you’ve already paid off a quarter of your original outstanding loan amount, you can use this as a proof of positive intention in your negotiations with the bank. You can also provide the bank with proof of your current employment and salary received.

For full article go to The National