I am Emirati, work in the government sector in Dubai and have outstanding debts of Dh350,000. This is made up of two loans, a personal loan of Dh300,000 and a car loan of Dh50,000. I dont have any credit cards. I took out the personal loan to start building my house but then the contractors ran away. Now I am stuck with this debt and I want to complete my villa, which needs at least Dh1.7 million to finish it. I only need a loan for Dh1 million, as I am getting Dh700,000 from the government housing establishment, however no bank is willing to finance me. I earn Dh33,000 a month and my monthly instalments are Dh12,000 for the personal loan, Dh1,000 for the car loan and Dh6,000 for my accommodation. What do you suggest? MS, Dubai
Debt panel…
Read the full article at: http://www.thenational.ae/blogs/your-money/20170207/the-debt-panel-emirati-government-employee-with-dh350000-in-debts-seeks-a-dh1m-loan-to-finish-building-his-villa