Category: Debt

What financial lessons have we learnt from the pandemic? – Pocketful of Dirhams

Over the past 18 months, the world has changed more than anyone could have predicted. The Covid-19 pandemic brought the world to a standstill, shutting businesses, schools, offices and shopping malls, and confining millions to their homes for long periods of time. While many saw their incomes dwindle or lost their jobs altogether, others boosted […]

UAE credit card dues: Fines, travel bans; all you need to know

Debt counselling

Know your legal rights if a ‘debt collection agency’ calls you. Question: I was a UAE resident for 12 years and returned to India in June 2020 after I lost my job. I had two credit cards, with an outstanding amount of Dh22,000. I could not settle the amount before I flew back in a […]

8 ways to stay out of debt if you think your job is unstable

If there’s one thing the Covid-19 pandemic has taught us, it’s the importance of financial preparedness. Saving more has been high on personal agendas as a lot more people appreciate the relevance of an emergency fund to tide them over in case of unexpected crisis. The latest numbers from the Central Bank of the UAE […]

A guide to debt relief in 2021

Among the people stuck in a debt trap, how many of you would like to pay off your debt as soon as possible? If you wish to accomplish this goal, you must constantly remind yourself to free yourself from the debt burden.If you are experiencing continuous bills, it can negatively impact your daily life, your mental health, and even your career. Global can assist you in settling your creditors and removing your debt burden permanently.Furthermore, debt burden also negatively impacts your credit score due to the fact that no matter how hard you try, you fail to follow through with the plan to pay off the debt. This makes it harder to escape the debt burden permanently. In what ways can Credit Card Debt negatively affect your financial standing? Since it’s a revolving credit card debt, you can carry a balance from month to month […]