Bank­ruptcy law will only ap­ply to com­pa­nies, not in­di­vid­u­als

7 Days in Dubai - - DEAR 7 DAYS -

“Can a bank grant time to in­di­vid­ual un­til he gets new job to set­tle off his per­sonal loan out­stand­ing debts. Is there a per­sonal in­sur­ance for per­sonal loan?”


“This is one of those laws that is so com­pli­cated that you will never be hon­oured, and if you do, it would prob­a­bly cost you more than what you owe (ser­vice fees, ad­min­is­tra­tion fees, etc…).”


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