Debt accumulating amongst expats in the UAE seems to be, yet again on the increase. 

Moving to a new location can be an expensive process and it can be all too easy to start spending beyond your means. All too often expats live like they are on a constant holiday. Be warned - if you aren’t wary the bubble will burst, leaving you borrowing into a vicious debt trap.

The debt owed by expats in the UAE is for a whole manner of things from car loans, to boat purchases, to credit card debt and the banks seem quite happy to grant relatively large loans and credit cards to customers with limited income. This coupled with a high level of consumerism and often poor financial literacy can be a recipe for disaster. 

Are you caught in a debt trap? Here are few quick tips on how to take control of your debt:

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