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  1. Join Date
    Sep 2006
    Posts
    1,266
    #61
    I think the TS failed to to clearly explain a lot of things to a lot of tsikoteers here kaya eto panay ang mga speculations..

    Maganda din sana na ma explain nya mabuti (tutal inumpisahan nya yung thread) ito kasi hindi nga talaga ito kapani paniwala for now..

    IMO, baka hindi na issue sa TS yung negative credit standing nya kasi naka loan (?) naman na ata ng pangalawang kotse...

    Again, this is another speculation

  2. Join Date
    Feb 2009
    Posts
    117
    #62
    Bahala na po kayo kung gusto nyong sabihin basta ako problem solve na po kaya closed na po.salamat kanya kanyang opinyon ang mga nabasa ko,ang dami palang taong nagmamarunong dito.kaya sige po salamat sa inyo

  3. Join Date
    Feb 2008
    Posts
    5,179
    #63
    ^^ yep tapos na.

    good luck on your next loan.

  4. Join Date
    Dec 2009
    Posts
    41
    #64
    Quote Originally Posted by renzo_d10 View Post
    Sarap naman ng buhay ni TS, bibili ng kotse .. pag nagsawa ibabalik. Hay. Sana wag lang makaapekto yan sa reputation mo sa bangko. Kasi kung oo, deds ka pagkanagloan ka ulit ng bago.

    Yun pa naman pinagkakaingat ingatan ng pamilya ko ... yung reputation sa bank. Yun yung pag nawala mo eh mahirap maibalik uli sayo.

    Better to have papers signed kung wala nga talagang effect sayo yung pagbalik mo nun. Baka mabigla ka nalang pag nagfile ka ulit ng bagong loan.
    Hi! I work for one of the local banks. With all due respect to the TS and dun sa kausap niya, 95% sure po ako na may negative record ito. I think ung sinabi nung taga-banko na "ok lang" at "walang problema" is only as far as settlement and closing of the loan account is concerned. Contrary to some points mentioned na natuwa pa ung bank, last option po ng bank na maghatak ng property. The bank will always be happiest to get cold cash than have to liquidate foreclosed properties.

    Also for the bank person na kausap ni TS, negative din po ang effect nito sa performance niya. Loan officers are rated based on the quality of their loan portfolio. In the simplest terms, plus points sa kanya ang bawat loan na nababayaran ng tama, at minus points sa performance nia ang bawat loan na hindi natatapos ang term (except if nag-fully pay in advance or pina-assume balance) or nababatak/surrendered ang property. All loan officers I know (and I know a bunch from both housing and auto loans) would first suggest other ways and will discourage surrender of the property. Kung ung parang "rent-a-car" system na kinalabasan nitong kay TS rin lang, may mga car leasing arrangements na po ang mga banko natin ngayon. The loan people will happily refer you to the leasing people, kesa naman (sorry for the term) parang "pinaglalaruan" lang sila.

    Now, on voluntary surrender vs foreclosed property. Essentially walang pinagkaiba. The borrower took a loan and did not pay for it (again, no offense meant to the TS). Simple as that. Because a mortgaged property is always meant to be paid for, not returned to the bank at the borrower's whim.

    If I may share this story, I have an officemate who got a car under our officer's car plan. When this officer resigned, she needed to fully pay her car plan but didn't have the means to pay the balance lump sum. She asked what will happen if she just returns the car (she planned to get a better one under her new company). Sadly, may negative record pa rin daw cia kahit voluntary ung surrender.

    I hope this clarifies some mysteries in this thread.

  5. Join Date
    Dec 2009
    Posts
    41
    #65
    Quote Originally Posted by Ginnova View Post
    i think the bank will earn more from this scenario. kaya nga may downpayment ang banks. para kung hindi ituloy ng buyer ang payment di sila lugi.malaki na rin nabayaran ng TS 20% DP + 1 year payment. that's roughly 35-40% of the price. mas gustuhin pa ng bangko na isoli ng lang buyer( with updated payment ) rather than hatakin ito ( non-payment). but for sure bad record ka na.
    Hi Sir! Clarification lang po on the DP, for the benefit of the tsikoteers na din. Purpose of the DP is to establish the seriousness of the borrower with his loan. We all know that the higher your DP, mas malaki chance na ma-approve ang loan mo di ba? More than "security money", the logic behind this is the bigger your investment in the loan/property, the less probable you are to default on the loan (kasi nga malaki na nailabas mo na pera). In the words of our mentor on loans before: "Kung 50% ang DP ng borrower mo (vs someone just presenting 20% or 30%), ta-tumbling na yan mabayaran lang kesa ma-foreclose ang property."

    Fortunately for our TS, he has a lot of spare money at ok lang na magastusan. We're all guilty of this naman at one point or another. Maybe hindi sa mga bagay na kasing laki ng kotse, pero sa mga ibang naging purchases at expenses natin.

    (This year, I sold a bnew 2-week old un-used macbook pro lugi ng P15k simply because the week after inuwi ng pinsan ko from US, nilabas ng Apple ung bagong line up ng MBpro, double the specs and at a lower price! The sooner I dispose it the better. And ok lang for me to lose my P15k than getting stuck with a bnew "old" model whose depreciation will accelerate anyway dahil nga sa bagong labas.)

  6. Join Date
    Jul 2007
    Posts
    1,243
    #66
    Quote Originally Posted by olm093 View Post
    Hi Sir! Clarification lang po on the DP, for the benefit of the tsikoteers na din. Purpose of the DP is to establish the seriousness of the borrower with his loan. We all know that the higher your DP, mas malaki chance na ma-approve ang loan mo di ba? More than "security money", the logic behind this is the bigger your investment in the loan/property, the less probable you are to default on the loan (kasi nga malaki na nailabas mo na pera). In the words of our mentor on loans before: "Kung 50% ang DP ng borrower mo (vs someone just presenting 20% or 30%), ta-tumbling na yan mabayaran lang kesa ma-foreclose ang property."

    Fortunately for our TS, he has a lot of spare money at ok lang na magastusan. We're all guilty of this naman at one point or another. Maybe hindi sa mga bagay na kasing laki ng kotse, pero sa mga ibang naging purchases at expenses natin.

    (This year, I sold a bnew 2-week old un-used macbook pro lugi ng P15k simply because the week after inuwi ng pinsan ko from US, nilabas ng Apple ung bagong line up ng MBpro, double the specs and at a lower price! The sooner I dispose it the better. And ok lang for me to lose my P15k than getting stuck with a bnew "old" model whose depreciation will accelerate anyway dahil nga sa bagong labas.)
    downpayment is not for the benefit of the buyer. Its for the benefit/insurance of the bank which will cover the depreciation. the higher the dp the happier the bank will be( mas less ang risk para kanila). ang mga bangko sigurista yan. hindi sila papalugi. may comprehensive insurance + mortgage insurance pa. para saan yan? more for the protection ng bank or the lending institution.

    may kakilala ako na nagsoli din ng car( hinatak dahil sa non-payment). ginamit nya name ng brother in law to apply for a loan.sa brother in law din sya nagbibigay ng bayad. found out later na hindi pala binabayad yung payments nya. ang bangko after several months of non-payment saka pa lang endorse sa legal department. magbibigay pa ng mga notice. almost a year nya itinago yung sasakyan sa sheriff. in the end isinoli din nya.

    so tangin mo ano mas maganda sa bangko. isoli with updated payments o padaanin pa sa sheriff because of non payment.

  7. Join Date
    Feb 2008
    Posts
    5,179
    #67
    Quote Originally Posted by Ginnova View Post
    downpayment is not for the benefit of the buyer. Its for the benefit/insurance of the bank which will cover the depreciation. the higher the dp the happier the bank will be( mas less ang risk para kanila). ang mga bangko sigurista yan. hindi sila papalugi. may comprehensive insurance + mortgage insurance pa. para saan yan? more for the protection ng bank or the lending institution.

    so tangin mo ano mas maganda sa bangko. isoli with updated payments o padaanin pa sa sheriff because of non payment.
    oo sigurista ang bank, kung baliktarin natin, bank uutang sayo ng lets say 500k, papayag ka ba walang assurance na may makukuha kung hindi mabayaran?

    whats hard is to liquefy the asset. car is a depreciating asset, as time passes, palugi ng palugi yan. its better for the bank na bayaran yung buo loan kasi may plan na yan to be spread over the years agreed upon and also the interest that they were suppose to earn, nawala. now they have to settle with having the car stuck with them and trying to sell it para lang hindi malugi.

    it does not matter if updated or hindi yung payments, basta non-completion of payment will result to a bad record sa bank. whats worse is that central system yan, kahit anong clear on paper, basta nakita ng mga loan officer na may default, mahihirapan na magloan ulit.

  8. Join Date
    Dec 2009
    Posts
    41
    #68
    Quote Originally Posted by Ginnova View Post
    so tangin mo ano mas maganda sa bangko. isoli with updated payments o padaanin pa sa sheriff because of non payment.
    Sir, given na ung options nio po is either way default na ung borrower, no argument po na mas OK ung former. But bottomline is, gaya nga ng sabi ni Sir Archie, number 1 pa din sa aming mga banko ang makakolekta ng cash. Actually, kung ang isang borrower ay lalapit sa bank to say na nahihirapan cia sa terms ng loan nia but still willing to pay, the bank can help the borrower by repricing the loan first (vs offering na batakin na lang ang property).

  9. Join Date
    Jul 2011
    Posts
    4
    #69
    Hi guys, I need help and advice, please. My cas (crosswind xti 2008) was seized by a RTC sheriff on Friday July 22, 2011 at around 4;00 AM. I admit that this is due to my default in paying the bank, RCBC Savings. The RTC has issued a writ of replevin and a Summons to answer the complaint of RCBC (To possess the property lang naman yung complaint, without naman pay for sum of money or damages). Of course I want to take again the car and clear my name of bad credit standing.

    I've called up the bank personel of their collection/legal department in charge of my account, he said he has nothing to do with the writ of replevin, it was initiated by external parties. (Law office). He said I can try to talk with their bosses regarding my situation.

    1. Can I try to negotiate with the bank so I can have the car back, but i cant pay in full the obligations including other fees, pwede ko bang i negotiate half lang muna and reprice (if that is the correct term) for the remaining balance.

    2. What will i do with the Summons? Do I have to answer as required by the summons?

    3. if i will not be able to renegotiate with the bank, will they issue me statement to the effect that my obligations are extinguished already due to the repossession of the car?

    Do you have any idea if RCBC Savings Bank renegotiate with this kind of situation

    4. Please advice me all options that i can do.....


    Thanks.

  10. Join Date
    Jul 2011
    Posts
    703
    #70
    Quote Originally Posted by noelcanlas View Post
    Hi guys, I need help and advice, please. My cas (crosswind xti 2008) was seized by a RTC sheriff on Friday July 22, 2011 at around 4;00 AM. I admit that this is due to my default in paying the bank, RCBC Savings. The RTC has issued a writ of replevin and a Summons to answer the complaint of RCBC (To possess the property lang naman yung complaint, without naman pay for sum of money or damages). Of course I want to take again the car and clear my name of bad credit standing.

    I've called up the bank personel of their collection/legal department in charge of my account, he said he has nothing to do with the writ of replevin, it was initiated by external parties. (Law office). He said I can try to talk with their bosses regarding my situation.

    1. Can I try to negotiate with the bank so I can have the car back, but i cant pay in full the obligations including other fees, pwede ko bang i negotiate half lang muna and reprice (if that is the correct term) for the remaining balance.

    2. What will i do with the Summons? Do I have to answer as required by the summons?

    3. if i will not be able to renegotiate with the bank, will they issue me statement to the effect that my obligations are extinguished already due to the repossession of the car?

    Do you have any idea if RCBC Savings Bank renegotiate with this kind of situation

    4. Please advice me all options that i can do.....


    Thanks.
    Usually, replevin units taken by banks are required to be paid in full, should you wish to take back your car.
    No installments, no discounts just the big fat full payment.
    The bank will give you a 30-day holding period to decide whether to get back your car or let them keep it for good (the latter will incur you bad records, even a lawsuit coz umabot na sa korte yung kaso mo)
    Try talking to a higher-positioned bank personnel in RCBC, he might even help you get your car back given some considerations.

    Another option would be to look for another financial company that would "take-out" your loan to RCBC, in return you'll have to pay them (the other bank) your monthly amort albeit at a higher price.

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Ano maganda isoli o ipabatak ang car?