Auto loan question

[airmanloloko]

mga sir good day..question ko po about sa auto loan, nadefault po kasi ako ng payment for about a month then the collections officer told me that I was already "billed in full" sa amount ng car loan ko, and I was asked to pay the full amount with interest, eh 3 years ko na po binabayaran yung kotse ko at ayaw po tanggapin yung payment ko for the previous month unless i pay the amount he told me to pay. Legal po ba ito?

[Syuryuken]

mga sir good day..question ko po about sa auto loan, nadefault po kasi ako ng payment for about a month then the collections officer told me that I was already "billed in full" sa amount ng car loan ko, and I was asked to pay the full amount with interest, eh 3 years ko na po binabayaran yung kotse ko at ayaw po tanggapin yung payment ko for the previous month unless i pay the amount he told me to pay. Legal po ba ito?

anong bangko?

[_Qwerty_]

read your contract..

[airmanloloko]

anong bangko?

Sir plantersbank..

[shadow]

Yup! Legal na legal

[airmanloloko]

Yup! Legal na legal

pano po legal yun sir?khit one month lang po na nadefault ung payment?pwede nyo po ba i-sight sir kung pano po yun? thank you po sir sa reply.

[cast_no_shadow]

pano po legal yun sir?khit one month lang po na nadefault ung payment?pwede nyo po ba i-sight sir kung pano po yun? thank you po sir sa reply.

Logically speaking hindi ka allowed ma delay ng bayad diba?

[airmanloloko]

Logically speaking hindi ka allowed ma delay ng bayad diba?

Yes sir but with other banks like BDO yung friend ko nadefault cya for five months then nasettle nya yung account nya na hindi nmn po cya na-"billed in full". nagtataka lang po ako bakit po billed in full agad without prior notice and hindi na po tinatanggap payment ko.

[Syuryuken]

hindi ba dapat yung multa lang ang binabayaran diyan plus yung month na hindi mo nabayaran?

[airmanloloko]

hindi ba dapat yung multa lang ang binabayaran diyan plus yung month na hindi mo nabayaran?

Yes sir yun rin ang pagkaka-alam ko and yun din po sabi sa akin ng mga kakilala ko sa bank sir.

[shadow]

Yes sir but with other banks like BDO yung friend ko nadefault cya for five months then nasettle nya yung account nya na hindi nmn po cya na-"billed in full". nagtataka lang po ako bakit po billed in full agad without prior notice and hindi na po tinatanggap payment ko.

Why keep on comparing with other banks? Ano ba bangko mo and ano nakasulat Sa pinirmahan mo?

[Yuki13]

TS ano ba nakalagay sa contract? ang alam ko dapat macharge lang ng late payment penalty fee yung unpaid amount mo for the past month.

[1D4LV]

TS ano ba nakalagay sa contract? ang alam ko dapat macharge lang ng late payment penalty fee yung unpaid amount mo for the past month.

depende sa bank yan eh... by signing the loan agreement, you agree to the terms and conditions of the contract.
maski i complain mo pa din yan, basta nag sign ka sa contract, wala kang laban.

[airmanloloko]

Why keep on comparing with other banks? Ano ba bangko mo and ano nakasulat Sa pinirmahan mo?

Sir I'm comparing it with other banks kasi po they are governed by BSP na may laws po for that. Wla rin po ako nabasa sa contract ko about dun. I'm still in contact with the agent of the car dealer kc sila po naghanap ng bank para po sa car loan ko.

[S&S4.1]

Sir I'm comparing it with other banks kasi po they are governed by BSP na may laws po for that. Wla rin po ako nabasa sa contract ko about dun. I'm still in contact with the agent of the car dealer kc sila po naghanap ng bank para po sa car loan ko.

The thing is the BSP only has mandate on currency issues and general aspects that effect banking institutions. The Car Loan is a business transaction between you and the bank covered by a contract, ang may jurisdiction dyan mga korte na. Unless you signed under duress, you are legally bound by the conditions set when you signed it.

[_Qwerty_]

dapat bago ka nag default binasa mo yung contract.. i agree medyo mabilis yang 1 month.. pero kung yun ang nakalagay sa contract and pinirmahan mo.. ibig sabihin pumayag ka sa terms nila..

masama nyan.. malalagay ka pa sa black list.. ganyan nangyari don sa kaibigan ko.. nahatak yung oto.. he tried to apply agad for another auto loan sa ibang bank, even sa ibang dealers after 3 days.. ayun declined na agad..

[shadow]

tama si qwerty, mabilis ang one month, usually mga 3 months yan..ano ba kasing bank yan baka yun maliiit na bank kaya ganyan kabilis?

and kahit na 3 months ka pang defaulted pwede pa rin maayos yan and to continue your loan, baka sa risk management ka na makipagusap siguro.

are you telling the truth na 1 month ka lang defaulted? naka received ka ba ng mga demand letters? saka anong bank ba yan? bakit ayaw mo pang sabihin?

[Lew_Alcindor]

mga kapatid, Plantersbank nga daw ang banko. Nasa third post pa niya sinabi na Plantersbank.

[shadow]

well, wala ako kakilala na nag car loan sa planters bank. laging sa mga big 3 banks, baka kasi maliit silang bank ang mahigpit sila sa loan. since 3 years ka na nagbabayad, kumita na sila, kaya hatakin na nila agad collateral... unlike sa mga usual banks na sanay na sa mga car loans...

[Centrino Philip]

well, wala ako kakilala na nag car loan sa planters bank. laging sa mga big 3 banks, baka kasi maliit silang bank ang mahigpit sila sa loan. since 3 years ka na nagbabayad, kumita na sila, kaya hatakin na nila agad collateral... unlike sa mga usual banks na sanay na sa mga car loans...

anu pong bank nyo sir? anu po kaya mas ok na bank? PSBank,BPI,BDO