Loan & Resign

22POSTS

4 years ago

Hello there,
I have a loan in SCB Bahrain, I am planning to resign from my company and go back to my country.

I'm going to delay my loan payment before I go back to my country.

When I return to my country, I will find a job and continue the payments.
I plan to return to Bahrain to work again after a while, but I have to be in my country for a while.

What is the legal process?

What is the process after I submit my resignation?

Can I resign and collect all my receivables, salary and compensation from the company and go back to my country?

See also

Opening a bank account in Bahrain - Guide
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Fred Indonesia Expert

30549POSTS

4 years ago

cenkobh wrote:
my country.
I'm going to delay my loan payment before I go back to my country.

Did the loan company agree to this?

XTang Bahrain/UAE/KSA Expert

11978POSTS

4 years ago

You need to agree with the bank.聽聽Keep in mind that in the case of most loans, your Company would have provided an undertaking to the bank that they will transfer your end of service to your account with them.聽聽If they do, the bank will use that to settle as much of the loan as it can and then will ask you for the rest.聽 Or your company will ask you to get the NOC from the bank.

1 member reacted to this post

Fred Indonesia Expert

30549POSTS

4 years ago

If I may ..

Are you saying he won't be allowed to leave the country if he has an outstanding loan?
Further, if he stops paying as he suggested, will the bank put in a complaint and stop him?

XTang Bahrain/UAE/KSA Expert

11978POSTS

4 years ago

He will not be stopped UNLESS the bank puts in a complaint for recovery.聽 So for example, if the money goes into the account, the bank settles it and gives him a demand for the rest.............if he leaves before the demand deadline, no issue.聽 Because after that, they may file a recovery case and that leads to travel ban.

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bookbee29 New member

5POSTS

last year

Hi. I am leaving Bahrain and plans on paying my loan outside bh. Is there anyone here who talks to the bank about it and the bank allows?

logicalindian Bahrain Expert

3515POSTS

last year

Depends on the country your going, some banks may allow if you they have the presence there or they may not allow as well, totally depends on the bank