Repay debt to bank

  • Published: 09:29 October 30, 2010

SUBJECT
Other

I would like to ask if someone who has been working in a private company for more than seven years can leave the company because he received a better offer.
Even if the present company releases him, will there be any obstacles as he has got a bank loan and credit card (but in both cases until now all payments were made on time). What are the options available for him and which one would be the best?

I would like to advise the questioner if he is fully dependent on such a job, where he is currently employed, to repay his debt to the bank.
I would advise him, if he is not desirous to continue in his current job, to look for another job, when he makes sure that the new job is secured, he may submit his resignation from the current work so as not to subject himself to any trouble with the bank due to such debt.

Questions answered by Advocate Mohammad Ebrahim Al Shaiba of Al Bahar Advocates and Legal Consultants.

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