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  1. Lee

    Hi

    I Work in United Arab Emirates (UAE) and took out a UAE loan. I was made redundant due to Corona Virus and Oil prices.

    I can not settle the UAE loan, so believe they can hire a UK solicitor to chase the debt

    My wife is the homeowner and the house is in her sole name. My question is can our house be repossessed for my debt? If the mortgage is not paid then understandably it can be repossessed.

    Everything has been paid and is ok in life, but unfortunately due to the sudden loss of employment due to Corona Virus things are going to Spiral out of control and I am not going to be able to pay outgoing’s.

    My main concern is the house for my wife and 3 kids. As I have a low payment mortgage, we can manage to pay this and I am seeking new employment.

    The downside is if the UAE register me with Interpol, I can never leave Uk without potentially being arrested due to UAE debt, regardless of the amount and face deportation back to UAE and possibly Jail. Theey pay Interpol millions to register it as fraud, which is not legal, but UAE way of doing things.

    Any advice on mortgage would be useful as my wife is the sole owner, but we are married and living together.

    I certainly never thought I would be in this position for sure and find it upsetting.

    1. Scottish Adviser Post author

      Hi Lee

      I am sorry to hear your situation.

      The debt is potentially recoverable in the UK and I have dealt with a number of UAE Loans in the past.

      Basically, they would need to register the debt for enforcement in Scotland and there are international laws that allow them to do this. They would need to employ UK lawyers, but I am aware some UAE Banks do this.

      In terms of it being catergorised as fraud, I cannot comment on this or Interpol, as I have never come across this before. Certainly if you were to return to the UAE, you could be subject to their laws.

      However, in regards to how the debt is recovered here, it must be done in accordance with Scots Law.

      The basic principle is no one can be held liable for your debts. There are a number of exceptions to this rule if you die, but I cannot see your wife’s house being affected by any of these if the house has been in her sole name for more than 5 years.

      If you were even made bankrupt or signed a Protected Trust Deed, your wife’s home should not be affected.

      I would recommend getting personalised advice as soon as possible, as this debt is potentially recoverable and as you cannot settle it, it’s best to get ahead of the curve.

      I have a number of links on my site that can direct you to where you can obtain advice.

      I hope this helps.

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