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According to a survey there are more than double of the total population of Credit cards used in Dubai and 60 percent of people suffering from Debt problems. I used to work for Debt collection Agency and decided to create a discussion forum and like to invite all Dubai forums members to share your debts problems and how you solved it.

We will be inviting more than 2000 bank staff and Collection managers to answer you questions by sending them invitations.

visit http://www.dubaidebts.com

ksjain wrote:According to a survey there are more than double of the total population of Credit cards used in Dubai and 60 percent of people suffering from Debt problems. I used to work for Debt collection Agency and decided to create a discussion forum and like to invite all Dubai forums members to share your debts problems and how you solved it.

We will be inviting more than 2000 bank staff and Collection managers to answer you questions by sending them invitations.

visit http://www.dubaidebts.com

One of the biggest problems, if not the biggest is the BANKS, they sit and encourage the poor labourers to go get credit cards, they can barely read and write, and then they charge them interest rates upto 2.25% per month on the outstanding balance. These poor guys just don't know what has hit them.

Property reposessions will be the next big thing in the UAE. The banks will learn the hard way eventually.

The Yanks learnt very quickly of this last year and the brits discovered this in 1990 and again this year.

There are lots of people opening new companies only to bring the people from country giving them Higher positions and showing the bank that they are paid more and apply for loan and skip back to country and share the amount.

Credit cards double your purchasing power
And so you can get what you want this month instead of waiting for the next month
Credit cards are quiet handy at the beginning but they suck every last penny out of you with interest and late payment charges later
So temme how can people avoid it?
Thank god I have not fallen into their trap yet and have no plans of gettin one

sage & onion wrote:

ksjain wrote:According to a survey there are more than double of the total population of Credit cards used in Dubai and 60 percent of people suffering from Debt problems. I used to work for Debt collection Agency and decided to create a discussion forum and like to invite all Dubai forums members to share your debts problems and how you solved it.

We will be inviting more than 2000 bank staff and Collection managers to answer you questions by sending them invitations.

visit http://www.dubaidebts.com

One of the biggest problems, if not the biggest is the BANKS, they sit and encourage the poor labourers to go get credit cards, they can barely read and write, and then they charge them interest rates upto 2.25% per month on the outstanding balance. These poor guys just don't know what has hit them.

Bingo!!

ksjain wrote:According to a survey there are more than double of the total population of Credit cards used in Dubai and 60 percent of people suffering from Debt problems. I used to work for Debt collection Agency and decided to create a discussion forum and like to invite all Dubai forums members to share your debts problems and how you solved it.

We will be inviting more than 2000 bank staff and Collection managers to answer you questions by sending them invitations.

visit http://www.dubaidebts.com

The problem lies here with the banks not the consumers. Banks operate in a way over here living on charges and no customer service at all because there is a lack of internal communication of the department. Banks dont calculate what a person is earning every month and how they are living. Leaving aside the credit card or loans or whatever. Banks come with such a good offer that it is hard to resist the offer with so many facilities being given and the part is they aim for the needy as in people who needs cash the most.

They aim maybe for the labourers but also say an executive or a sales man etc with a salary of 3000 to 5000. Where people here minimum require 10000 dhs in order just to survive and that also for a bachelor. The guy who earns 3000 or 5000 for his place he pays like 1500 to 2000 a month for a rental space that also if he finds it. Leaving aside that. A person cant just work all his life just like a proverb all work and no play makes jack a dull boy. So he looks out for luxury like a car for easier in his transportation so he takes an auto loan, Like watch a movie in the theater, Go out for a drink etc and pay with his card.

Clearly the main issue is that salary is not worth enough for a person to get such luxury due to which he gets entangled in all that mess where he is already suffering through work as in working his ass off while then the bank charges which builds a lot of mental pressure.

See if I was a business man I would wanna get the money out from ur pocket hook or by crook but in a proper manner. Because my question is I need the money. I will not think about what ur personal problems are. I didnot force u to take. Maybe yes I kept on callin u so u should also keep on denying but u didnt. I didnt tell u to take my offer. I kept on buggin u saying all those stories and all and u took it. Because I need ur money. Thats what the bank is thinking. They dont care how ur gonna pay up. They gave u the cash and they want it back. U might as well die but they want it back.

I can tell u banks are aware of this but they will ignore it because if they have to sit with each and every client to understand what their problem is then they will loose a lot of millions.

Dude I appreciate u want to do this and all and everything is fine. If necessary I can come and give these and more pointers since I worked in a call center for two years . But on the fact if any one will come I doubt it. Because they dont care really!! Maybe out of 100 applicants u might find 10 people coming!! Neways best of luck!!