Legal Question in Credit and Debt Law in Saudi Arabia

I have taken Personal loan sum of 80,000 SR in one of saudi arabia's bank and I have paid around 35,000 as EMI, I have debt of credit card amount 15,000 Saudi riyal. everything was smooth but now my company is terminating all of their employees due to some business loss. Can any one suggest what should I do. If I go india can the bank take any legal action on me in india. As I don't have money to pay back once.

Thanks


Asked on 4/11/10, 12:43 am

1 Answer from Attorneys
Awad Majzoub on my own

if you go to india the bank will take hold of your guarantees if they are not enough they may sue your guarantor if any otherwise the bank can appoint an indian lawyer to sue you in india

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Answered on 4/12/10, 2:53 am


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