What happens when you are unable to pay your debt from CCs, Loans, here in PH?

[cheskacruz]

Sisses, what happens kapag may utang ka sa credit card, loan, globe/smart, etc? I am researching about it and sobrang limited lang yung nakikita ko sa net.

Usually you get blacklisted from other banks, I've also heard that there are other companies who do not accept employees with bad debts. In the US kasi, it's a big deal for them because their credit standing will be affected, looks like dito sa atin you can run away from your debt but ano kaya ang maaring mangyari if you have a debt, aside from being contacted by collection agencies?

Looking forward to your responses. Thank you.

[mxherr5]

My bro has unpaid "debts" from SMART..
Kadalasan naman sa utility companies ang unpaid
debt ay dahil shoddy ang service at hindi na tinapos ang
contract period.

Wala naman nangyari sa kanya.
Can still open bank accounts, not black listed, etc

Wala ata matinding consequences dito sa atin pag unsecured
ang debt mo.

Kung secured naman, then they get the collateral i.e. car,house,etc

Also the collection agencies are a big consequence on to themselves.
Nkaka HB sila
I had the misfortune of encountering their brand of collecting since
my wife had an unpaid cc debt from before we were married.
Negotiated with the bank directly then complained with the bank
and BSP about the collector.
The bank took immediate action to reprimand the collector
and the collector wrote an apology.

Then I paid off the debt.
That was one week of h*ll!

[cheskacruz]

My bro has unpaid "debts" from SMART..
Kadalasan naman sa utility companies ang unpaid
debt ay dahil shoddy ang service at hindi na tinapos ang
contract period.

Wala naman nangyari sa kanya.
Can still open bank accounts, not black listed, etc

Wala ata matinding consequences dito sa atin pag unsecured
ang debt mo.

Kung secured naman, then they get the collateral i.e. car,house,etc

Also the collection agencies are a big consequence on to themselves.
Nkaka HB sila
I had the misfortune of encountering their brand of collecting since
my wife had an unpaid cc debt from before we were married.
Negotiated with the bank directly then complained with the bank
and BSP about the collector.
The bank took immediate action to reprimand the collector
and the collector wrote an apology.

Then I paid off the debt.
That was one week of h*ll!

Thanks for the reply mxherr5. Yes, looks like wala nga very big consequence sa atin kapag you have a debt and isa nga sa hindi mo magugustuhan is the collectors who are usually agressive and yung iba nag-tethreaten.

[prettychestnut]

in my case, tuloy pa rin ang buhay but of course, it's your choice if you want to settle your debts or not. marami ako kilala na hindi talaga babayran ang loans/credit cards pero shempre ayoko ng ganun. gusto ko maayos.

ilang beses na ako nakaranas ng harassment from collectors pero sanay na ako. it was a good thing, i settled 2 credit cards already and yung 2 isesettle ko na rin. sa awa ng diyos.

diskarte lang baga kasi nagoonline selling ako para kung may sobrang pera, binabayad ko sa credit cards ko.

lesson learned for me as well. =)

[glacy_rein]

true maluwag dito satin compared sa ibang bansa like US/UK na hindi ka lang makasettle ng payment automatic bad record na tapos magrereflect na yun sa lahat ng plan mo in the future.

brother ko nun nagkaproblema din sa CC malaki agad ang interest pero walang consequence na maje-jail ka or whatsoever at dahil walang collateral involved walang habol sayo yung bank kundi ibaon ka sa utang at kulitin ka araw araw pero sinettle nato ng mom ko since preferred client sya saka baka maka-affect din sa record ng buong family namen..

yung mga nagca-car loan tapos hindi nakakabayad hinahatak ang kotse so i guess same thing sa ibang case

konsensya nalang din saka karma yan. be responsible enough with your actions.

[mommy_pink]

(ex. may utang ka sa credit card na hindi na nabayaran), ang isang pwedeng mangyari halimbawa may balak ka na mag loan sa bank ex "Housing loan" malamang na hindi ma approve ang loan mo so ang bagsak mo inhouse financing na ang taas ng interest rates. Kuns si bank nagbibigay ngayon as low as 5.5% (annual fix interest rate) sa inhouse 15% kadalasan or mas mataas pa, mas maikli pa ang payment term max 10 to 15 years lang unlike kay bank na 20-25 years and pwedeng maging term.

[joevicko]

mga kaGT: any advise pano ang sinasabi nyo para makipag settle ng balance sa CC? mine kasi CC ko is Citibank, di ako nkapag bayad ng 2 months kasi I gave birth then after 2 months pag balik ko sa office hinaharras nako ng collector at need ko bayaran ang laki agad ng interest. pwede ba isettle na lang na wala ng interes, [textspeak!] principal n lang? pls advise

[glacy_rein]

^depends sis kung igagrant nila.. try mo inegotiate sa head ng CC department kung anong setup pwede.. yung 2 case na alam ko pumayag naman pero full binayaran. bpi cases

[joevicko]

^depends sis kung igagrant nila.. try mo inegotiate sa head ng CC department kung anong setup pwede.. yung 2 case na alam ko pumayag naman pero full binayaran. bpi cases

Thanks sis, naku mahirap yata sakin pag ganun ang condition nila, nasa 80k kasi yung balance ko pero 125k na yung total plus interest. medyo mabigat pa din yung 80k if ever. by the way naka monthly installment kasi yung cc ko, initially 12k/month dapat kong ibayad kaso last 2 months, di ako nakapag bayad. haayyyz ayaw din nila ibigay contact person sa head office nila, sabi ng collector, sila n daw sa main office at sa kanila na din yung collection. need daw bayaran agad agad nasa 28k para di ako mablack list at mapunta sa legal department yung account ko  macoconsider harassment ba yun? tawag sila ng tawag sa office at sa bahay namin

[glacy_rein]

^ganyan talaga sila once hindi ka magbayad or hindi makipagusap sa kanila.. lahat ng alam nila na number sayo aaraw-arawin nila.. i don't know if you can raise a case pero matagal ang magsampa ng reklamo and may money invloved dyan..

citibank no.. why not try to go sa isang branch? para masettle mo ndn.

in the first place din kasi sis stated naman ang rates sa interest.. sana you paid kahit yung minimum amount due..

[prettychestnut]

hi joevicko, since delinquent na, ang account mo ay nasa collection agency na pero shempre hawak pa din ng account mo kung saang bank ka may utang.

Saang bank ka delinquent? ako naman sa chinatrust. loan yan. naibalik ang account ko sa ctbc kasi HINDI DAW NILA (collection agency) ako macontact. which is not true. sa araw araw ng pambabastos nila sa akin, hindi nila ako macontact?

yun ang dinahilan nila sa nakausap nilang recovery manager ng ctbc. ayun, binigyan nya ako ng payment arrangement.. medyo malaki per month pero no choice but to pursue nalang kasi i need to close the account.

yung legal department na yan, hindi totoo yan. walang legal department ang collection agency and moreso, bawal ang abogado dun. mga AGENTS lang yan, period.
Pero oo, araw arawin ka nila, of course para magkapera, meaning commission. =)
sanay na ako sa harassment sis =)

[glacy_rein]

yep delinquent account na, worst case na mangyari sayo yung hindi kana ulit makakagamit ng CC or yung mga loan loan.

and wala namang nakukulong sa may money issues (sorry for bringing that up) pero yun yung nakakainis, maraming kinasuhan mom ko pero natatapos sya sa "agreement ng payment terms" as far as i know.

[joevicko]

Enter your message here

hi joevicko, since delinquent na, ang account mo ay nasa collection agency na pero shempre hawak pa din ng account mo kung saang bank ka may utang.

Saang bank ka delinquent? ako naman sa chinatrust. loan yan. naibalik ang account ko sa ctbc kasi HINDI DAW NILA (collection agency) ako macontact. which is not true. sa araw araw ng pambabastos nila sa akin, hindi nila ako macontact?

yun ang dinahilan nila sa nakausap nilang recovery manager ng ctbc. ayun, binigyan nya ako ng payment arrangement.. medyo malaki per month pero no choice but to pursue nalang kasi i need to close the account.

yung legal department na yan, hindi totoo yan. walang legal department ang collection agency and moreso, bawal ang abogado dun. mga AGENTS lang yan, period.
Pero oo, araw arawin ka nila, of course para magkapera, meaning commission. =)
sanay na ako sa harassment sis =)

sis prettychestnut: nung nagbigay sila ng new payment arrangement, kasama ba sa kinompute yung interest or yung principal lang? sa officemate ko kasi BPI eh nawalan siya ng work dati so di nakapagbayad, dumating pa talaga sa court hearing yun pero di required na magdala siya ng abogado, pero sabi ng judge isettle  in 1 year, yung principal lang ang pinabayaran kaya walang nagawa ang bank. Btw, Citibank ang bank ko. araw araw sila natawag sa house at sa office para pilitin akong mag bayad ng 2 months na di ko nabayaran plus interest. sabi ko di ko kaya barayan yung 2 months agad, di daw pwede at mapipilitan sila ipasa sa legal department yung account ko. haay sakit sa ulo

[aicute12]

I have 2 citibank cards, way back 2008 when i stopped paying.

Nalate lang ako ng isang araw, and beforehand, sinabi ko naman ng tumawag ako na malelate ako ng 1 day, sabi iwwaive pero hindi. nagappear padin yung late charge at finance charge. 2 years ako solid na nagbabayad at is not once ako nalate, yun lang month na yun.

So kaliwat kanan ang mga tumatawag na law office, kebs lang. Mga nagmumura, nagpupunta sa bahay, araw araw minu minuto kang tatawagan, pero huhupa din.

May isang law office, nasa 15k lang actually yung utang ko, naging 30k dahil sa interest. Kinausap ko, pumayag sila isettle ko ng 10k! At ang maganda nun, 2 months to pay. hehe. so cleared na ko sa isa!

Yung isang card, nasa 8k lang ata yun at lumago dahil sa interest, aba ayaw ako pagbigyan ng law office na magbayad din ng 10k. ayun till now, di ko pa binayaran.

I have a friend, sa HSBC, umabot ng 100k utang niya and she was able to settle it for 10k lang.

I'm not saying don't pay your utang sa card, kung hindi kasi kaya wala ka talagang magagawa e, parang pag natambak na, interest nalang ang binabayaran mo monthly, diba?

Pero siympre, nadala na ko.

[joevicko]

wow swerte mo naman sis aicute12, anong document hiningi sayo para pumayag sila isettle yung maliit na balance? ako willing to pay naman din basta alisin nila yung interest na pinatong agad nila. saka sana mag recompute sila. in case na tumawag uli sakin, ano ba pwede ko ipakiusap sa kanila

[aicute12]

1. Once may cancelled card ka, nasa CMAP ka na. Only those working in banks (marketing mgr position) ang may access, in case may friend ka, pacheck niyo names niyo. hehe.

2. Pag nasa bank pa ang naghahandle ng account mo, amnesty ang maibibigay nila sayo. e.g 100k debt, 24 months to pay. Walang bawas.

3. Soon as lumipas na ang panahon na hindi ka pa nagbabayad or nagpaparamdam sa kanila, (your account will be declared as loss by the bank) they will then transfer you (or ibebenta nila yung account mo) sa mga law offices.

4. Yung law office, papadalhan ka ng letter, subpoena keme keme. Just ignore them. Pero what i did kasi was i called them and then talked sa manager then haggle. I told them na walang wala talaga ako, (which is soo true) and i can only manage to pay 10k in 2 months. Pag nakatyempo ka ng mabait, papayag sila.

5. From what i know, based sa mga sinasabi ng friends ko, the bank will sell your "case" sa law office, let's say 10k ka nila binenta, pag napilit ka ng law office na bayaran yung debt mo ng 20k, may kita na silang 10k. (commission)

6. There are accounts na nawawala sa CMAP after 5years onwards, ill have mine check nga.

[joevicko]

2. Pag nasa bank pa ang naghahandle ng account mo, amnesty ang maibibigay nila sayo. e.g 100k debt, 24 months to pay. Walang bawas.

4. Yung law office, papadalhan ka ng letter, subpoena keme keme. Just ignore them. Pero what i did kasi was i called them and then talked sa manager then haggle. I told them na walang wala talaga ako, (which is soo true) and i can only manage to pay 10k in 2 months. Pag nakatyempo ka ng mabait, papayag sila.

sis thanks sa insight, yung amnesty na ibibigay nila sayo, kasama na ba dun yung interest or principal balance lang talaga ang papabayaran at specific month terms?

at pag nakausap mo yung law firm, mag ask ba sila sayo ng documents to prove na wala ka talaga means to pay? TIA happy holidays

[aicute12]

Most likely buo padin. (sa bank)

Law office: they don't care really, and pakialam lang nila is masingil ka nila

[joevicko]

pero infairness, I tried paying ng small amount like 5k from originally 15k monthly due, di na sila tumwag uli matapos ko sabihn na sa Manila RTC nagwowork asawa ko at siya ang kausapin nila. hehe

[rochelle1025]

Ingat kayo sa hindi pagbabayad ng CC. Pag nablacklist kayo sa bangko, mahihirapan kayong makakuha ng loans. Banks share their blacklisted creditors with each other. Yung friend ko, naka-blacklist siya for 10 years sa Citibank kahit more than 10 years ago na nya nabayaran yung utang nya. Hanggang ngayon, blacklisted pa din siya.