Multiple loans, credit cards and instalments can quietly take over a monthly budget, for individuals and companies alike. When repayments become heavy, acting early gives you more options. Our debt restructuring service looks at all your commitments together and works out a more manageable structure, whether through a buyout, consolidation or renegotiation with your existing lenders.
Restructuring options
Debt buyout
Another bank settles your existing loan and replaces it with a new financing, ideally at a lower rate or with a more comfortable instalment. To do this, the new bank needs a liability letter from your current bank showing the outstanding balance, and early settlement fees may apply on the old loan.
Consolidation
Several debts, such as personal loans and credit card balances, are combined into one financing with one monthly instalment. This simplifies payments and can reduce the overall rate, especially when expensive card debt is replaced.
Renegotiation with current lenders
In some cases the best route is to approach your existing bank to reschedule repayments, adjust the tenor or review the rate. We help prepare the request and explain your situation clearly, within the bank's policy and Central Bank rules.
The rules that still apply
- Total monthly debt repayments cannot exceed 50% of your income.
- A new personal loan is limited to 20 times your salary and 48 months.
- Your credit report from Al Etihad Credit Bureau will be reviewed by every bank.
A longer tenor lowers the monthly instalment but usually increases the total amount you repay. We always show you both figures, so you can choose with your eyes open.
Documents usually requested
- Passport, residence visa and Emirates ID, or company documents.
- A recent salary certificate and bank statements for the last six months.
- Statements for every loan and credit card, and liability letters when a buyout is agreed.
Who is it for
- Individuals with several loans and cards who want one manageable instalment.
- Clients whose income has changed and who need to rebalance their commitments.
- Companies whose repayment schedule no longer matches their cash flow.
How it works with Lugain Global
- Full review: we list every commitment, its balance, rate, remaining term and fees.
- Credit check: we review your credit report to understand how banks will see the file.
- Options and figures: we model buyout, consolidation and renegotiation side by side, including total cost.
- Negotiation: we approach the banks and present the request, aiming for the best terms available to your profile.
- Completion: we follow up on liability letters, settlements and the new financing until everything is closed.
Important to know
Results depend on your income, credit history and each bank's policy, and no reduction in instalments or rates can be guaranteed. Lugain Global is a financing broker, not a lender or a debt collection agency, and our fees are agreed in writing before work starts. If you are already in serious financial difficulty, speak to your bank early as well.