Dear Members,
I need your kind suggestions.
I took loan from one of the bank in Saudi Arabia. Was the regular payee & paid loan on monthly basis for 18 months but unfortunately, i got terminated from the company & left Saudi Arabia by leaving the my pending loan. And was & still trying to get back there in Saudi Arabia for a Job.
In mean time An agency contact me on behalf of Bank. They told me to pay the amount, i negotiated with them & settled the amount of my loan they handed over me the documents in which it is written negotiated settlement amount from Bank.
So, I need to confirm is the bank paper is enough or should i need the no objection certificate from bank.
When asked agency for NOC from bank they replied letter for Settled Amount is enough. Bank doesn't give any NOC.
If i doesn't have NOC from bank but only the settle amount paper. Will I've any future problem entering in Saudi Arabia or GCC countries. Can bank book a case against me there in saudi arabia even after settle amount.
Please help me out with your valuable inputs. I'll will more & more thankful...
Bank Settlement Documents & Loan Amount
Dear All
I want to know if it safe to take loan from a agency not located in Saudi Arabia. If this agency transferred loan amount to my bank account in Saudi will create a problem to me.
Please suggest.
Dear,
when did you left KSA, was thr any problems in the immigration airport, you can forward me your LinkedIn profile here, I will try to find out job for you in banks here
Regards
@Syed Zain95
Hello. Read your case. I'm not responding to your query but have a question instead. I'm in a similar scenario with pending loan from bank in Saudi Arabia which I want to clear. A debt collection agency in India is in contact with me.
Will be very helpful if you can share with me all your experiences and the debt collection agency you dealth with was "Bilkish "?
@Syed Zain95
I'm in a similar situation. Had a loan from bank in KSA and when I came for my vacation to India, I couldn't get back due to COVID.
I am willing to clear my loan but not getting any response from the bank.
A loan recovery agency BILKISH has been contacting me for the same reason.
Do you have any idea if they are authentic. Is it advisable to deal with them for clearing the debt?
Did you get the NOC or just the clearance certificate?
Please share your experience. Might be of some help to me.
Thank you
I think and heard NOC from bank is very important for future use.
This is my personal experience and not an advise. I was contacted by Bilkish when I avoided their calls and mails. Finally I arranged some money and responded to their calls. Bargained for the settlement and achieved around 60% reduction.
They approached the bank SAB in Saudi Arabia and got a letter of settlement with approval for amount to be paid after the reduction.
The letter was from bank with stamp and on letter head of bank with bank account details (IBAN, Name, address, swift code...) for the transaction to be made. Account details were of the bank head office and not any individual.
I reconfirmed with the collection manager who had signed the letter and he confirmed that Bilkish are their debt recovery agents.
I have made the monet transfer from India to Saudi to the account details mentioned in letter.
Also I have hired a lawyer in Saudi with my friends help so that I gey the clearance letter or NOC on time and also clearance of travel ban if the bank has implemented.
The NOC and clearance letter are same as explained by my attorney. Different countries use different terms but all serve the same purpose, proving the settlement of wht ever is agreed.
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