Man seated at desk talking on telephone Image Credit: Getty Images/Dorling Kindersley

Please settle

I recently took a personal loan for business persons from Dunia.

The loan amount is Dh19,000 with an instalment of Dh930 per month. Along with the loan, they provided me with a credit card of Dh2,500, which became a nightmare for me later. Because of my negligence, I missed out the minimum payments for the card, as I thought it would only be a small amount.

As the interest rate and other hidden charges are high, I decide to close the card. As the amount become higher and higher every month, I requested Dunia to turn the card amount into a loan.

For the past five months they have played with me. Instead of a loan, they entered wrong information in the system that I wanted to top up the loan.

I also asked them for a one-time settlement amount, but they didn’t agree. They say they are not a bank and they don’t have such things. After all this, why don’t they?

The situation has been this way for a while and for the Dh2,500 credit card, I have to pay Dh10,000. The amount Dh4,000 I paid towards this card for the past year has been taken as interest and late payment fees. So the total will be Dh14,000 to close my credit card amount, which was originally for Dh2,500.

Everybody badly needs cash in an emergency. We don’t care about the interest and consequences in such cases. Before approaching such companies, I urge people to please be aware about the facts.

When Dunia agreed to convert my credit card to a loan, they asked me for a blank security check, which I didn’t agree to.

When I gave them a blank security cheque for my loan previously, they had deposited it in the bank with an amount of Dh100,000, when the loan amount was only Dh20,000.

So I now request them to make a final settlement amount for my Dunia credit card. I am willing to close this in one payment.

From Mr Shahjahan Hussain

The management of Dunia responds:

As you are aware, we are unable to disclose specific resolution details owing to confidentiality reasons regarding our customers’ personal and account-related information. However, we do confirm that, in line with our commitment to assist and serve our customers with the highest service levels and convenience, we have extended full assistance by discussing alternate payment solutions to assist Mr Hussain in conveniently regularising his account with us, which remains delinquent on payments for an extended period of time.

We trust this closes and satisfactorily resolves the matter. We thank you for your ongoing support. 

Editor’s note: Do you have similar issues that you would like to raise with us? You can write to us at readers@gulfnews.com