Can't afford to pay my car loan

[rd81]

walang interest yung bayanihan act. yung mom ko hindi nagbayad ng oct/nov due to the bayanihan act 2, pero yung bangko yung kumausap sa kanila na pwede hindi muna magbayad.

Meron pong interest. Pero walang interest on interest. Ganun nangyari sa akin. Sa Eastwest. Supposedly tapos na ako ng payment ng September. Pero nagulat ako na hindi nagbawas yun bank ko sa account (I issued all postdated cheques from the start and funded the account till completion).

When I inquired sa bank, they said that because I didn’t inform them that I don’t want the Bayanihan Act to apply to my loan (60-day grace period), they automatically applied the grace period to me but my account accrued interest from the principal. No interest on the interest though. I contested that because I said I didn’t apply for an extension of the loan and they didn’t inform me that i have to apply NOT to be extended. I even said client should APPLY to be EXTENDED and not the other way around (but I guess that’s how they could make money without people knowing). I also said I didn’t get any email or message/SMS asking me to decline the extension, only announcements that there was an extension, and since I didn’t apply, naturally, I expected to be charged as usual. However, my comments didn’t accomplish anything and I got the usual reply “policy kasi yun Sir”.

Hindi na ako nagcontest after that, even after talking with the bank manager. Binayaran ko nalang. About 1700 yun interest for the 2 months na naextend.

So definitely may chance na may fee yang extension ng loan nyo na yan Sir.


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[yapoy86]

Meron pong interest. Pero walang interest on interest. Ganun nangyari sa akin. Sa Eastwest. Supposedly tapos na ako ng payment ng September. Pero nagulat ako na hindi nagbawas yun bank ko sa account (I issued all postdated cheques from the start and funded the account till completion).

When I inquired sa bank, they said that because I didn’t inform them that I don’t want the Bayanihan Act to apply to my loan (60-day grace period), they automatically applied the grace period to me but my account accrued interest from the principal. No interest on the interest though. I contested that because I said I didn’t apply for an extension of the loan and they didn’t inform me that i have to apply NOT to be extended. I even said client should APPLY to be EXTENDED and not the other way around (but I guess that’s how they could make money without people knowing). I also said I didn’t get any email or message/SMS asking me to decline the extension, only announcements that there was an extension, and since I didn’t apply, naturally, I expected to be charged as usual. However, my comments didn’t accomplish anything and I got the usual reply “policy kasi yun Sir”.

Hindi na ako nagcontest after that, even after talking with the bank manager. Binayaran ko nalang. About 1700 yun interest for the 2 months na naextend.

So definitely may chance na may fee yang extension ng loan nyo na yan Sir.


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mis information yun di ba bawal yun? baka dapat iparating sa Bangko Sentral ng Pilipinas yan kasi mali yung ginagawa nila..

[17Sphynx17]

mis information yun di ba bawal yun? baka dapat iparating sa Bangko Sentral ng Pilipinas yan kasi mali yung ginagawa nila..

Yes, that was an illegal "maneuver" by his bank TBH.

But I think, since the damage "was only" 1700php of additional interest, the hassle of complaining to the BSP and filing reports and showing correspondence with EW acknowledging na wala nga sinabi si rd81 that he wanted to avail of Bayanihan extension for his car loan. It will still, most likely, need a face to face meeting parang to arbitrate sa BSP or their concerned office.

Similar sa when I complained about credit card promos na hindi binibigay sa akin. Even with document proof etc, kelangan ko pa din pumunta sa DTI office sa makati to sit down with Credit Card Company Lawyer and DTI to "Settle" the issue once and for all. If kaya na dun maayos, pirmahan. If hindi... may next step pa yun na di ko na alam san mapunta if no one is willing to bend.

[kagalingan]

Meron pong interest. Pero walang interest on interest. Ganun nangyari sa akin. Sa Eastwest. Supposedly tapos na ako ng payment ng September. Pero nagulat ako na hindi nagbawas yun bank ko sa account (I issued all postdated cheques from the start and funded the account till completion).

When I inquired sa bank, they said that because I didn’t inform them that I don’t want the Bayanihan Act to apply to my loan (60-day grace period), they automatically applied the grace period to me but my account accrued interest from the principal. No interest on the interest though. I contested that because I said I didn’t apply for an extension of the loan and they didn’t inform me that i have to apply NOT to be extended. I even said client should APPLY to be EXTENDED and not the other way around (but I guess that’s how they could make money without people knowing). I also said I didn’t get any email or message/SMS asking me to decline the extension, only announcements that there was an extension, and since I didn’t apply, naturally, I expected to be charged as usual. However, my comments didn’t accomplish anything and I got the usual reply “policy kasi yun Sir”.

Hindi na ako nagcontest after that, even after talking with the bank manager. Binayaran ko nalang. About 1700 yun interest for the 2 months na naextend.

So definitely may chance na may fee yang extension ng loan nyo na yan Sir.

Pang iiscam.ginawa sayo ah!!!!!

dapat pinaviraL mo

[Dr.Kamiya]

walang interest yung bayanihan act. yung mom ko hindi nagbayad ng oct/nov due to the bayanihan act 2, pero yung bangko yung kumausap sa kanila na pwede hindi muna magbayad.

Rent and services AFAIK no interest, but loans meron pa din accrued interest on principal. It's written right in the IRR of the Bayanihan act: Republic Act No. 11469

Section 5.02. Treatment of accrued interest. The accrued interest for the 30-day grace period may be paid by the borrower on staggered basis over the remaining life of the loan. Nonetheless, this shall not preclude the borrower from paying the accrued interest in full on the new date following the application of the 30-day grace period or extended grace period, as the case may be.

[idcrl59]

Yun nga po plagi ako pmpubta ng bank sbi mag antay nlang ako email or call nila, pero hngng ngayon hndi pa din nageemail o tmtwag.. gusto ko na po byaran ng buo sana ayw nila ksi wla daw ako bills nakakaloko nga sila eh

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[jigeloh]

Ganyan nangyari sa house loan ko sa BPI, I even call them na pinapacancel ko yun bayanihan na yan. Sa huli month ng amortization ko,nakita ko nalang na may dagdag na 8K. Hayun called the bank,even the bank manager . Policy daw talaga nila.

In the end, naalala nag email pala ako sa bank , at finorward ko yun email na yun sa kanila. Irreverse na daw nila yun kinaltas nila sa account ko .
Next month, withraw kuna lahat ng savings at checking account ko dun.once na nagreflect na yun reversal. *##%%^÷_ nila.

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[BratPAQ]

Ganyan nangyari sa house loan ko sa BPI, I even call them na pinapacancel ko yun bayanihan na yan. Sa huli month ng amortization ko,nakita ko nalang na may dagdag na 8K. Hayun called the bank,even the bank manager . Policy daw talaga nila.

In the end, naalala nag email pala ako sa bank , at finorward ko yun email na yun sa kanila. Irreverse na daw nila yun kinaltas nila sa account ko .
Next month, withraw kuna lahat ng savings at checking account ko dun.once na nagreflect na yun reversal. *##%%^÷_ nila.

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Same thing happened to my wife sa china trust. She said dapat nag inform sila and hindi dapat automatic. She created a formal email explaining it and showing that her account have balance for the PDC. A week later na reverse naman yung interest.

Eto hirap pag hindi malinaw yung bayanihan act. Imbis na maka tulong sa may utang eh nagpapahirap pa. Hindi na bayanihan tawag dun kung may interest. [emoji23]

[Mask Rider Blac]

Nahirapan ang mga bangko paano i-implement ang Bayanihan Act. Ang nakasulat lang kasi bigyan ng grace period ang mga borrowers. Kailangan nila sumunod. To play safe, they informed (last know e-mail, contact number, etc) the borrowers, ang hindi nag-reply, inaplyan ng Bayanihan Act.

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[dr. d]

Nahirapan ang mga bangko paano i-implement ang Bayanihan Act. Ang nakasulat lang kasi bigyan ng grace period ang mga borrowers. Kailangan nila sumunod. To play safe, they informed (last know e-mail, contact number, etc) the borrowers, ang hindi nag-reply, inaplyan ng Bayanihan Act.

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some years ago, even before covid and bayanihan,

i was ... subjected... to this "if you do not reply, it is assumed that you agree... letter".
i did not reply.
and regularly, for a year,
i received this "bill".
after one year,
they finally sent me a letter, that they are reversing all charges.

[Mask Rider Blac]

some years ago, even before covid and bayanihan,

i was ... subjected... to this "if you do not reply, it is assumed that you agree... letter".
i did not reply.
and regularly, for a year,
i received this "bill".
after one year,
they finally sent me a letter, that they are reversing all charges.

Para lang annual membership fee ng credit card..after a year or so, they will reverse all charges seeing you never used their card.

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[17Sphynx17]

Para lang annual membership fee ng credit card..after a year or so, they will reverse all charges seeing you never used their card.

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Re credit card annual fee, usually may request to waive from most banks (not all are willing to waive). Or you can immediately apply for no annual fee for life credit cards nowadays as they are in the market.

But during the peak of covid, BDO thought it best action to automatically change all credit card annual fee to a monthly fee charge (similar to their blue card - forgot the name).

This was predatory because some won't notice the change or those who are requesting reversal have trouble reaching them. Imagine doing it monthly to request reversal.

You can request reversal and also request it to be reverted back to annual fee.

But if you missed the cutoff date where the reversal credits to your bill, they will auto charge finance and penalty charges for the annual fee.

It was an obvious move by the bank to try ro earn change from their card holders who are unsuspecting.

For our family, only bdo did the conversion to monthly fee with the excuse of 'easing burden'. Complete BS.

For the card we were unable to catch it early enough, we just cut that card. The rest werent charged any fees and were reversed/reverted correctly.

[Akky M]

Ok ang credit card, cashless and convenient, you earned pts/rebates as long as you pay your total monthly bill.

I see people buying items sa mall and using multiple cards once na decline ang iba nya card. If mahirap i control ang impulse buy, get a debit card.

Cars purchase, buy cash if you can but not all has the capacity and has a different perspective about cash. Or loan with higher downpayment and/or shorter terms as much as possible. Salesperson in a casa are trained to enticed to buy thru financing, sabi nga always “read the fine print” of your financing loan.

Else, masasama sya sa list ni repo man.


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[Mask Rider Blac]

My experience:
Metrobank card – Paid all outstanding balance then requested cancellation of card. After a year or so, they reversed all charges..card still active. Then used the card several times. Paid all outstanding balance, requested for cancellation again. Every month, they send this “letter”..

PNB card – Used the card two moths before its 1st anniversary. I was charged the annual membership fee (for the 2nd year). Requested reversal of annual fee but got no reply so I just paid and used the card. Before the start of the 3rd year, paid all outstanding balance, then never used the card again. Did not request for cancellation since snub naman sila.

BPI card – Nung mga una una, I needed to request for reversal of annual membership fee then they act on it. Then the following years, they reversed the annual fee automatically. This pandemic, they charge 50% of the annual fee. They have promos so nababawi ko din ung 50% annual fee. Keeping this card as backup.

Citi card – No annual fee forever…so siya na