Abu Salem, 48 years old, suffered a loss in his business project two years ago, and is now required to pay the amount of the financial case owed to him in the amount of 450 thousand dirhams.
The Dubai Courts, represented by the Charity Courts, settled the amount of the financial case, and it was reduced from two million and 450 thousand dirhams to 450 thousand dirhams.
Abu Salem tells his story to Emirates Today, saying: “I dreamed of being an entrepreneur. In 2002, I established my own project, which was a restaurant, with one of the people. I was a 25% partner, and things in the project went according to plan.” Of success, growth and profits for 15 years, we achieved good success, but conditions gradually worsened, and I became unable to fulfill bank financial obligations and the company turned from profitability to loss.”
He added: “I obtained a loan from a bank worth two million and 450 thousand dirhams, and I allocated part of it to build a house, while the other part of it went to support my commercial project.”
He added: “I continued to pay the loan installments on a regular basis and did not face any problems, but I was exposed to harsh circumstances four years ago in which I lost my business project and stopped paying, which led to the accumulation of interest, bringing the amount required to be paid to the bank to two million and 450 thousand dirhams, and I tried with the bank to reduce The amount of interest and I explained to him the loss and difficult circumstances that happened to me, but to no avail.”
He added: “My circumstances began to get worse and worse as I stopped completing the construction of the house and became without any financial income, knowing that I am the sole breadwinner for the family consisting of a wife and five children.”
He continued: “The Dubai Courts, represented by the Charity Courts, made a settlement in the amount of the case and it was reduced to an amount of 450 thousand dirhams, but I am unable to arrange the amount in light of the difficult circumstances that I am facing.”
“Abu Salem” appeals to good people and helpful people to extend a helping hand to him and help him manage the amount of his financial case.
• The case owner is the sole breadwinner for a family consisting of a wife and five children.
2023-12-27 22:08:26
#thousand #dirhams #cost #financial #case #Abu #Salem
