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Beyond Mortgage default, new options open up for home owners in the UAE
- April 22, 2020
- Posted by: Minhaj Mehmood
- Category: Mortgage Debt Management
6,945 Comments
Countries across the globe are facing economic ramifications due to the current COVID19 (Novel Coronavirus) outbreak. Even with well-measured steps by the government to contain the economic breakdown, in the long run, the fear of salary cut and job loss can be an important factor for individuals with Mortgage Debts. During such a crisis, many borrowers might be tempted to relocate or go back to their country to avoid repaying Mortgage Debt. Let us tell you that no matter how attractive it may sound, fleeing the country isn’t the right option.
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COVID-19 : How can Mortgage Borrowers avert the Financial Crisis in UAE
- April 13, 2020
- Posted by: Minhaj Mehmood
- Category: Mortgage Debt Management
Several countries are facing a public health crisis due to the COVID-19(Novel Coronavirus) pandemic. With no definitive treatment for the virus and the increasing number of cases every day, there seems to be no end to the pandemic soon.
As the UAE Government declares newer measures and strict lockdown hours, it’s clear that the health threat is going to seriously affect the solvency of businesses and individuals. The government is doing its best to lessen the impact of the virus outbreak on the economy. But there is no denying that the crisis at hand will have a knock-on effect on the financial system.
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Seeking Financial Assistance for Mortgage Debt Management
- January 13, 2020
- Posted by: Minhaj Mehmood
- Category: Mortgage Debt Management
When it comes to necessity, a Mortgage Debt seems to be an attractive option to receive financial support for purchasing a property. The issue arises when you face excessive debts due to overspending, job loss, salary cut, and medical reasons. In such cases, resolving debts can be difficult and many customers skip their payments and even resort to fleeing the country. If you are facing such a situation, know that there is help available in the form of Debt Restructuring & Debt Settlement.
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A Knowhow of Insolvency Laws in UAE
- January 6, 2020
- Posted by: Minhaj Mehmood
- Category: Mortgage Debt Management
The UAE Cabinet has approved the new Federal Law for regulating insolvency cases from 2020. The law intends to protect honest debtors from facing legal persecution and decriminalises financial obligations of insolvent borrowers. It also provides support in the form of an opportunity to work, be productive and provide for their families.
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Debt Management and Why You Need It?
- December 16, 2019
- Posted by: Minhaj Mehmood
- Category: Mortgage Debt Management
It’s not uncommon for a borrower to hit a roadblock in paying off their mortgage debt. Job loss, salary reduction, medical emergency and other such unforeseen circumstances may throw you off track from your monthly payments. At such times, you may come under the overspending situation. When you find it difficult to cope with overwhelming outstanding claims, Debt Management comes to the rescue.
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