Refer below page:
 
 
http://www.siasat.pk/forum/showthread.php?79881-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.
 
 
 
 
 
 
 
Re: Need Advice To Handle a Debt Collection Agency in Karachi
 
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).
 
 

 
 
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.