I work as a personal trainer in a hotel and took out loans worth Dh100,000 from two banks in 2019 to pay off financial obligations I have had since 2009 and to pay rent for an apartment. I also used it to pay for a visit visa and flight ticket for my wife to come to the UAE from the Philippines.
I wanted her to find a job to supplement my income and help me repay the loan. Unfortunately, she was employed for only two months and was then laid off from her role as a receptionist.
The banks continue to deduct loan payments every month but I will soon run out of funds because my monthly salary of Dh8,000 is not enough to repay our debts.
I also need to pay for utility, telephone and hospital bills after my wife gave birth to a baby girl this month.
I have exhausted my finances. Our apartment lease is also up for renewal next month and the hospital bill remains unpaid. I have stopped paying back the loans and one bank has already filed a case against me.
Please help me find a solution to my situation. My concern is about my wife and baby girl as I want to give them a beautiful life. GP, Sharjah
Debt panellist 1: Steve Cronin, founder of DeadSimpleSaving.com
There are many personal trainers who live a twilight life of working early mornings and late nights, earning hardly anything and struggling to survive. It’s natural for you to want the best for your wife and child – for this, you need to think both short term and long term.
In the short term, you need to plan your cash flow carefully for the next few months. It seems that you don’t have enough money for the rent, let alone to pay your loans back. Track the dates of your expected major inflows and outflows, then estimate what your bank balance will be on each day.
If it turns negative, then at least you have some time in advance to plan how to get some money or prioritise payments.
A bank case is serious, even if it is a civil offence. You must talk to your banks and see if you can come up with a plan for payment. You may be able to get a consolidation loan and possibly add the hospital bill to it as well. This would run over a longer time frame, but your monthly payments will be lower and more manageable.
With the right plan and course of action, you should be able to improve your financial circumstances by managing your debt, limiting your expenditure and increasing your income
Philip King,
head of retail banking at Abu Dhabi Islamic Bank
Don’t expect the banks to be particularly helpful or sympathetic as they are dealing with thousands of people like you. The good news is that you have a regular salary, so push them to come to an agreement or talk to another bank willing to consolidate your debts.
You need to rapidly boost your income and reduce your expenses. Keep an eye out for other personal trainer jobs that pay more, especially if you have a specific skill. Take on clients on your days off, even if it is friends and members of your community. Your sole focus is to get out of debt now.
You may need to send your wife and child back home temporarily, even if this is painful. If they can live with family, that should reduce expenses and then you can greatly reduce your rent and living costs in the UAE.
This is where you have to think long term. You need to be able to earn more money, even if that means taking courses to improve your skills, building a portfolio of clients, changing your employer or even country, or starting a new career.
Your mission is to get out of debt and you must be focused, creative and disciplined.
Debt panellist 2: Philip King, head of retail banking at Abu Dhabi Islamic Bank
This is an unfortunately stressful situation to find yourself in and I empathise with you deeply. When family is involved, being in such a position must be disheartening. However, it is important not to get discouraged by your predicament and to focus on the steps you can take to turn your situation around.
There are several factors that can be taken into consideration and with the right plan and course of action, you should be able to improve your financial circumstances by managing your debt, limiting your expenditure and increasing your income.
As a first step, I highly recommend that you communicate your situation to your bank as it is vital that they know of your willingness and commitment to pay off your debt.
This could start a negotiation with the bank to put on hold the legal case that has been raised by them. In addition to that, depending on your debt burden ratio, which should ideally be less than 50 per cent of your salary, you could request for the consolidation or restructuring of your debts into a single loan. With preferably lower rates and a longer tenure, you would be able to reduce your monthly payments.
The second step should be to monitor and review your current spending patterns to pinpoint any unnecessary expenditure. By doing so, you could start mapping out a comprehensive budgeting plan to limit and cut back on any unnecessary daily expenses. This should help you to maximise your savings and reduce your costs.
Finally, it is vital that you look for ways to improve your situation by boosting your financial resources. This involves looking for new job opportunities to secure a better income, which would help you address your current debt obligations.
If you are not entirely successful in your search for a lucrative, full-time job, it would be wise to consider freelance work on the side to help you further manage your situation or liquidate your assets to cover your debts.
Debt panellist 3: Carol Glynn, founder of Conscious Finance Coaching
Congratulations on the birth of your baby girl. I’m sorry to hear you are under such financial stress, especially during what should be a joyous and special time for your family.
As you have seen, your debt-to-income ratio is very difficult to manage. The best way forward would be to find ways to increase your income.
Can you earn additional income outside of your main employment? If your contract allows, it may be possible to freelance by offering personal training to subsidise your income. Do you have any other skills that you can use to generate income? There are a number of in-demand freelance skills that employers look for, including website design, graphic design and copywriting.
You should also look at reducing your costs. Apartment rental rates have decreased in recent years and you could look for cheaper accommodation elsewhere. Alternatively, if you have a spare room in your apartment, you could consider renting it out and using the income towards your debt.
Have you spoken to the hospital’s management team about assistance or payment plans? There are also charitable organisations that help individuals who find themselves unable to pay hospital bills in the UAE. It would be worth reaching out to them to discuss any options they may have.
It is also worth discussing your financial situation with your bank. It may be possible to restructure your loans, enabling you to reduce your monthly payments to a more manageable amount.
It may cost more in the long run, but as you are unable to meet your payments now, the interest and penalties will already be adding to your debt burden.
While I always wish for families to stay together, it would be worth considering your family returning to the Philippines until you have resolved your debt problem. The cost of living will be lower for them and they will, hopefully, have family around to support them.
You could then plan for their return when you have your debts under control. This is likely to help you to reduce your living costs, providing more income to pay off your debts quicker.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
Key findings
- Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
- Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase.
- People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”.
- Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better.
- But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.
THE SPECS
Engine: six-litre W12 twin-turbo
Transmission: eight-speed dual clutch auto
Power: 626bhp
Torque: 900Nm
Price: Dh940,160 (plus VAT)
On sale: Q1 2020
BRAZIL%20SQUAD
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Mubalada World Tennis Championship 2018 schedule
Thursday December 27
Men's quarter-finals
Kevin Anderson v Hyeon Chung 4pm
Dominic Thiem v Karen Khachanov 6pm
Women's exhibition
Serena Williams v Venus Williams 8pm
Friday December 28
5th place play-off 3pm
Men's semi-finals
Rafael Nadal v Anderson/Chung 5pm
Novak Djokovic v Thiem/Khachanov 7pm
Saturday December 29
3rd place play-off 5pm
Men's final 7pm
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Alan%20Wake%20Remastered%20
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
UAE currency: the story behind the money in your pockets
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
'Hocus%20Pocus%202'
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Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
The Indoor Cricket World Cup
When: September 16-23
Where: Insportz, Dubai
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
Sreesanth's India bowling career
Tests 27, Wickets 87, Average 37.59, Best 5-40
ODIs 53, Wickets 75, Average 33.44, Best 6-55
T20Is 10, Wickets 7, Average 41.14, Best 2-12
Summer special
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
MATCH INFO
Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')
Man of the match Son Heung-min (Tottenham)
Duterte Harry: Fire and Fury in the Philippines
Jonathan Miller, Scribe Publications
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
The Bio
Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”
Holiday destination: “I like Paris very much, it’s a city very close to my heart.”
Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”
Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”
The Book of Collateral Damage
Sinan Antoon
(Yale University Press)
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
COMPANY%20PROFILE
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