Leaving the UAE with car and property loans outstanding
I wanted to get a general consensus from the guys who are leaving the UAE How they will work to settle their debts before leaving the country ? as a result of being terminated from the major airlines Just how are the UAE banks responding to the crisis caused by Covid Situation After the release of “A LOT” of Pilots?
Historically , I have heard some leaving without settling the financial affairs or doing a runner as they say, this must be or will cause some headaches for some of the Banks a scenario not too different from the property crash of 2010.
How is the Emirates handling of bouncy cheques, families leaving in droves or waves and when or how long will this pan out?
will the airlines and banks honour the end of service benefits Monies to be released after years of service in the UAE? Off course properties will be repossessed, cars impounded Etc but still it’s does paint a bleak financial picture for those affected and no easy comfortable orderly way to guide ones way thru the maze or to even see the light at the end of the tunnel.