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  1. #1
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    Lightbulb Need Advice To Handle a Debt Collection Agency in Karachi

    Ladies and Gentlemen

    I am in a bit of a trouble and wanted to know the legal or acceptable course of action I can take in regards to my situation below.

    I ran a company in the UAE and like thousands of expats had to face the brunt of the financial down turn. Long story short because of lack of new orders the company had to stop its operations. I had taken a loan from Mashreq Bank and have already paid back 41% of the total amount.

    Now people who are either living in Dubai and the middle east is that all debts are secured through blank cheques. They issue anyone a loan if you sign a blank cheque. There is no personal or business bankruptcy. They simply put people in Jail for loan defaults.

    That is the reason 100s of thousands of people have fleed the country. They later negotiate and pay the debts when they come up with the money.

    I have full intentions of paying the rest but the bank is not agreeing on restructuring the loan to meet my limitations. Now they sent a collector from Bilkish Associates to my house in Karachi and tried to harrass my younger brother and mum.

    Technically its illegal as they cannot enforce UAE law in Pakistan and they are just collectors. I was wondering if anyone else on this forum has had a personal experience like this and would like to share his or her experience?

    Please let me know your thoughts and if any one on here is a collection agent in karachi please let me know what can they possibly do?

    Thank you.



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  3. #2
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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    brother negociate with them and get installement nobody can inforced you in whole world, tell them to get insurance claim also, pay according to your conveneient , bottom line they cannot do anything against u in pakistan, u can consult with the any lawer i listen one lawer who is sitting in gulistan -e- jouhar and dealing without charge, i have no contact detail with me, Allah help you, avoid to take loan in future.

    thank you


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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Legally they cannot force me to pay a business debt that has occurred the UAE in UAE jurisdiction to enforce in Pakistani Jurisdiction.

    What I was wondering if anyone on this forum was working for a UAE bank or a local collection agency in Pakistan or a lawyer to give me an honest insight of what really can happen or if the threats or visits are just bluff.

    If anyone can post the true picture then ALLAH is going to bless him or her and you will take a thousand prayers from an unknown person. Karma is true and if you do good sooner or later you shall be paid good.

    Expecting responses from my fellow forum members..

    Shukria


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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    call MQM local leader / area incharge and give them some money , they will get rid of these debt collectors.
    Make sure u contact MQM before debt collectors contact them for u.

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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    I was looking for advice from someone in a similar situation or someone who deals with such cases. Thanks


  8. #6
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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Quote Originally Posted by sarbakaf View Post
    call MQM local leader / area incharge and give them some money , they will get rid of these debt collectors.
    Make sure u contact MQM before debt collectors contact them for u.

    My Dear he his looking for a sincere suggestion. MQM se contact ker k in ko saare zindage bhatta dena pare ga.

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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Quote Originally Posted by M_S_A View Post
    My Dear he his looking for a sincere suggestion. MQM se contact ker k in ko saare zindage bhatta dena pare ga.
    Thanks. Yup I was looking for people in a similar situation posting on this forum. 100s of thousands of expats have fled UAE and Pakistanis are in a huge number.

    I am looking for a similar Pakistani who is currently dealing or has dealth with this OR a banker/Recovery Agent who is sincere enough to post the truth without personal interests in the name of ALLAH.


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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Legally speaking, if the bank has a branch office in Pakistan, they can collect on the debt. It would be best to consult with a good lawyer, who may be able to 'convince' the bank to structure a settlement plan.

    Brother stay strong and may Allah make it easy for you to get out of this debt, ameen!
    Last edited by junaids; 13-Sep-2011 at 05:32 AM.


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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Strange, when time of Help, faryad !!!
    every one is screaming for MQM......


    Why not PTI or PPP or ANP? Every one knows if any Party that works for the Common people is MQM.

    Now go out and Vote for it.

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  14. #10
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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    As I recall Mashriq Bank does have branches in Karachi, though I cannot be sure.

    Best advise would be to consult a lawyer


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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Dear Bro,

    No Need to worry.
    This BILKISH ASSOCIATE is unfortunately a black mailer agency, and doing a completely ILLEGAL AND UNLAWFUL act. By Law there is no way or right to any one to ask you for Debt which is been issued outside of Pakistan.
    Assuring you once again, NO one can or has right to demand you for any debt taken outside the country, even the BANK has the branches here in Pakistan, That’s very true.

    you or your brother should not be polite with these BILKISH Associate Gunda's and simply ask them to send you a legal notice from any court and get them realize very clearly that you will be dealing them in the court by your appointed lawyer or legal advisor only and not verbally.

    Hopefully they would not be able to send you a LEGAL Notice as they won’t have any PROOF or any document which is supported by the Pakistani laws and none of your UAE DEBT AGREEMENT document would be entertain by any court here in Pakistan and BILKISH already know this.

    so in short you just ask them with a bold tone to send you a legal notice and "i'm gonna see you in the court through my legal advisor"

    in case they send you a legal notice (which they won’t) hire a Lawyer who would just reply them personally on his official letter head and BILKISH or any other debt collector will be puncher.

    NOTE: UAE Debt Agreement is just a piece of paper here in Pakistan and nothing else. It cannot be entertained or used as evidence in any pakistani court. The person produces that agreement is actually a blackmailer and a commission agent. You can easily resist them and shut their mouth by simply mentioning a LEGAL ADIVISOR presence for you (even you don’t have one).

    I would try to put more details as soon i get more....

    May Almighty Allah give you strength and courage to deal with these commission agent and blackmailers and i pray for BILKISH Associate destruction who are creating Tension and threatening families just bcoz of a small unlawful commission.
    Last edited by rajputan; 13-Sep-2011 at 09:44 AM.

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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    May God end ur difficulties, bro. I have no suggestion due to lack of such experience but my sincere prayers are with u!


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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Thanks for all the inputs regarding this.

    Yes most debt collectors are a bunch of retards that need dealing accordingly.

    I am consulting someone competent in this regards.

    Any more inputs from forum brothers would be highly appreciated as well.


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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    I talked to my father who knows people in the armed forces and police as well.

    He said not to worry about it but I wanted to know the limits to which they can go and what measures are needed to shut their mouth. So far they have not come back to the house again.

    Lets see. I will update you guys as things happen so that other people in the same situation can seek information.

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  21. #15
    Intermediate pakistan1947's Avatar
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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Quote Originally Posted by Keepinformed View Post
    Ladies and Gentlemen

    I am in a bit of a trouble and wanted to know the legal or acceptable course of action I can take in regards to my situation below.

    I ran a company in the UAE and like thousands of expats had to face the brunt of the financial down turn. Long story short because of lack of new orders the company had to stop its operations. I had taken a loan from Mashreq Bank and have already paid back 41% of the total amount.

    Now people who are either living in Dubai and the middle east is that all debts are secured through blank cheques. They issue anyone a loan if you sign a blank cheque. There is no personal or business bankruptcy. They simply put people in Jail for loan defaults.

    That is the reason 100s of thousands of people have fleed the country. They later negotiate and pay the debts when they come up with the money.

    I have full intentions of paying the rest but the bank is not agreeing on restructuring the loan to meet my limitations. Now they sent a collector from Bilkish Associates to my house in Karachi and tried to harrass my younger brother and mum.

    Technically its illegal as they cannot enforce UAE law in Pakistan and they are just collectors. I was wondering if anyone else on this forum has had a personal experience like this and would like to share his or her experience?

    Please let me know your thoughts and if any one on here is a collection agent in karachi please let me know what can they possibly do?

    Thank you.
    Bro being a ex-banker i advise u to consult with bank lawyer....its a debt recovery case....so inside recovery dept u can consult with any lawyer.....remember one thing....bank needs only money.....so dnt u worry they will compensate with you....it would be more better if u go through wid some contacts widin mashreq bank........


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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Quote Originally Posted by pakistan1947 View Post
    Bro being a ex-banker i advise u to consult with bank lawyer....its a debt recovery case....so inside recovery dept u can consult with any lawyer.....remember one thing....bank needs only money.....so dnt u worry they will compensate with you....it would be more better if u go through wid some contacts widin mashreq bank........

    Thanks brother. Thing is that I willing to return the money only after my financial situation comes to a point where I can afford to settle the debt with them.

    I am just asking for time for which the bank is not willing to give and hence the problem.

    I have already started another business and saving money from it to clear and settle the loan but need these ******* debt collectors off my back.

    I can handle them as long as these debt collectors do not break any laws (which they are doing by default) in terms of coming to physical harm.

    May be I am thinking too much but with so much violence in Pakistan already I am not sure about their games.

    Well the entire portfolio of Mashreq Bank is behind it so they better not do something that can destroy banks image in front of the media.

    More inputs from people in similar situation welcomed.


  23. #17
    Intermediate pakistan1947's Avatar
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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Quote Originally Posted by Keepinformed View Post
    Thanks brother. Thing is that I willing to return the money only after my financial situation comes to a point where I can afford to settle the debt with them.

    I am just asking for time for which the bank is not willing to give and hence the problem.

    I have already started another business and saving money from it to clear and settle the loan but need these ******* debt collectors off my back.

    I can handle them as long as these debt collectors do not break any laws (which they are doing by default) in terms of coming to physical harm.

    May be I am thinking too much but with so much violence in Pakistan already I am not sure about their games.

    Well the entire portfolio of Mashreq Bank is behind it so they better not do something that can destroy banks image in front of the media.

    More inputs from people in similar situation welcomed.
    Mashreq bank have a v bad history......

    I advise u again to consult wid mashreq bank lawyer....otherwise they can be v worse......
    Try to talk wid somebody in mashreq bank......communication can solve many problems...


  24. #18
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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    And they wont do anything wrong with anybody else....they are just trying to reach you ......mightbe u r hiding.....
    Call mashreq bank recovery department....ask them the details and tell them ur problem too.....other than that i dnt think there is any solution.....thr are so many CSR at recovery dept just talk to them and i m sure its totaly secure....talk to them on phone
    Last edited by pakistan1947; 18-Sep-2011 at 05:07 AM.


  25. #19
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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Already done so many times. They are unable to make any changes to the settlement. Well if they cannot agree on anything that is in my range then I cannot do anything about it.


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    Re: Need Advice To Handle a Debt Collection Agency in Karachi

    Dear Sir, I am sorry to be here after so many days I was just searching something and found this thread. Let me introduce you my self, I am a lawyer and working on these issues since last more then 12 years, you should clear your mind regarding the legal remedy available to them as well as you. It is to inform you that this is an illegal act no matter Mashriq bank or any UAE bank has any branch here or not or whether it is registered with the SBP or not, the point is the act they have taken against you is illegal, as per the rules and policies of State Bank of Pakistan, the recovery department of any bank cannot adopt this type of procedure and it is also restricted by the High Court of Sindh (reference is made through publication in daily Jung dated 11th May 2011) , when a few bankers did the same thing with some other parson and those bankers as well as their bosses were called in High Court and this matter was also reported in news papers there are thousand of cases where we have taken the action against the collection and recovery department of about every bank registered in Pakistan and at the end the loan was settled with waiver of markup as well as discount in original amount because bank only need its money back, which was already recovered through insurance being an skip account but the recovery agencies are taking as much as money as they can from the client just being additional amount as well as to show to the insurance companies and agencies like FIA that these banks have done their best to get the client back to pay back the amount, to cut the story short, I second the opinions given by other friends , you should approach any lawyer first and move a complaint to your area police station, whenever they visit again, make them sit in your drawing room in the mean time call 15, it is the best lesson you can give to them. Do not hesitate in contacting in case of any further query.

    You can also complaint the Consumer Protection Department of State Bank Of Pakistan, infact its not their jurisdiction as the bank was not working in Pakistan, but they can take action against the agency who is showing itself the representative of the bank.

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