Need help for deceased loan but fully paid, how to obtain CR

[mikedp5]

Hi my dad died 1 year palang ng 5 year loan namin. We opted to continue payments para wala na problema. Paid na yun loan. Problem we have to get the original CR. The bank said judicial settlement and affidavit of publication. Problema kasi namin may mga utang un father ko sa ibang banks. Eh baka maghabol sa kotse. We paid un utang niya sa BPI (where the car was loaned) para di kunin din. Wala kasi co maker, waived nun manager nuon.

If anyone can help. Please.

[therightone]

Hi my dad died 1 year palang ng 5 year loan namin. We opted to continue payments para wala na problema. Paid na yun loan. Problem we have to get the original CR. The bank said judicial settlement and affidavit of publication. Problema kasi namin may mga utang un father ko sa ibang banks. Eh baka maghabol sa kotse. We paid un utang niya sa BPI (where the car was loaned) para di kunin din. Wala kasi co maker, waived nun manager nuon.

If anyone can help. Please.

No experience with this but how about your mom? Most likely pwede if legally married and binili yun sasakyan after ng marriage.

[Juan Martinez]

Hi my dad died 1 year palang ng 5 year loan namin. We opted to continue payments para wala na problema. Paid na yun loan. Problem we have to get the original CR. The bank said judicial settlement and affidavit of publication. Problema kasi namin may mga utang un father ko sa ibang banks. Eh baka maghabol sa kotse. We paid un utang niya sa BPI (where the car was loaned) para di kunin din. Wala kasi co maker, waived nun manager nuon.

If anyone can help. Please.

you have to bite the bullet: creditors are not precluded to go after the estate of your father. in the mean time that his creditors are yet to sue the estate, you're better off following the bank's advice. who knows they (the creditors) might lose interest to go after that car if it's already in your or any of the heir's name. but the proverbial sword of damocles hanging over your head will still be there ready to fall.

[Heyhey]

Hi my dad died 1 year palang ng 5 year loan namin. We opted to continue payments para wala na problema. Paid na yun loan. Problem we have to get the original CR. The bank said judicial settlement and affidavit of publication. Problema kasi namin may mga utang un father ko sa ibang banks. Eh baka maghabol sa kotse. We paid un utang niya sa BPI (where the car was loaned) para di kunin din. Wala kasi co maker, waived nun manager nuon.

If anyone can help. Please.

Same situation here. We got a car from Toyota financed by BDO for a five year contract named after my dad and my mom signed as a co-maker. A year after my dad died but we still continued to pay for it since my mom didn't want any bad record under her name. However, after paying off the car loan, BDO denies issuance of the car's OR CR because of my dad's outstanding credit card balance with BDO. Is this legal? Can they not issue a car's OR CR once it is paid off? Is our asset tied with my dad's credit card balance? Thanks in advance.

[yebo]

Same situation here. We got a car from Toyota financed by BDO for a five year contract named after my dad and my mom signed as a co-maker. A year after my dad died but we still continued to pay for it since my mom didn't want any bad record under her name. However, after paying off the car loan, BDO denies issuance of the car's OR CR because of my dad's outstanding credit card balance with BDO. Is this legal? Can they not issue a car's OR CR once it is paid off? Is our asset tied with my dad's credit card balance? Thanks in advance.

Yes. They can deny releasing the or/cr if your dad has outstanding cc balance. Happened to me. I stopped using the cc because i had another one issued by a bigger bank. I paid all the balance but i did not surrender the card. I also did not paid attention to the renewal notices. After 3 years syempre may 3 renewal fees na. I sold the car and when tue buyer went to collect the or/cr the bank denied releasing it due to the unpaid cc balance. I had to go to the bank's collection department to reduce the balance due, basically no interest na lang. Only then did the bank released the or/cr to the buyer.

[shadow]

Tama si yebo since isang bank lang yan, alam ko nasa contract yan na lahat ng outstanding balance dapat mabayaran or they will not released wahtewvr loan natapos mo na


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[Ry_Tower]

Tama si yebo since isang bank lang yan, alam ko nasa contract yan na lahat ng outstanding balance dapat mabayaran or they will not released wahtewvr loan natapos mo na


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Tawag dyan set-off. Kung wala na funds sa bank, wala sila ma-set-off so need talaga bayaran.

[cast_no_shadow]

Sa post ni OP deceased na yung principal borrower (dad niya)

Si Yebo ay alive and kicking pa hehe

Kahit deads na need pa din i-fully pay yung credit card balance?


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[Ry_Tower]

Sa post ni OP deceased na yung principal borrower (dad niya)

Si Yebo ay alive and kicking pa hehe

Kahit deads na need pa din i-fully pay yung credit card balance?


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Money claims arising from contracts survives the person. Kaya puwede pa habulin sa estate niya. Since may loan contract, pwede pa pabayaran talaga. Imho. Saan na ba si Atty.

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[WallyWest]

Pero kung buhay pa naman yung may-ari ng CC at nakakapaghulog pa naman, hindi naman magiging issue ang cc balance, tama ba? Na-alarm ako kasi patapos na car loan ko pero malaki pa balanse ko sa CC ng same bank.

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[sirkosero]

Now is the time to consult a lawyer.

Hindi naman pwede pabayad sa next of kin ang utang ng credit card (or any utang for that matter) although banks will attempt. Critical dito yung nainform ba ang bank na deceased na yung nagloan?

Have a lawyer friend or relative look at the documents to know what your legal standing is.

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[shadow]

Hinde na kailangan ng lawyer niyang makipag settle na lang kayo sa bank. Alisin lahat ng interest and penalties then bawasan pa yun principal amount since patay na naman yun principal.




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[sirkosero]

Hinde na kailangan ng lawyer niyang makipag settle na lang kayo sa bank. Alisin lahat ng interest and penalties then bawasan pa yun principal amount since patay na naman yun principal.




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From experience, dumadali kausap ang banks when they see "Attorney" or "BSP" in any of the documents hehehehe

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[dr. d]

just pay the bank the loan, po.
after all, it is the decent thing to do.

[shadow]

From experience, dumadali kausap ang banks when they see "Attorney" or "BSP" in any of the documents hehehehe

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At the end of the day kailangan pa rin bayaran yun utang para ma-release yun kotse.

Idagdag na lang yun bayad sa lawyer sa pambayad ng utang.

Kung hind kaya lump sum. Hulugan na lang din ninyo rin yun amount. Para matapos na yan ang then can love on with their lives.


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[yebo]

From experience, dumadali kausap ang banks when they see "Attorney" or "BSP" in any of the documents hehehehe

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Nooooo! Do you know how many lawyers the banks have in their legal dept? How many lawyers they have on retainer? Or how many lawyers the bank's collection agency have? You will never ever intimidate the banks with lawyers. Never!

Best to call, ask for a compromise/discounted amount. They are not that hard to talk to. Ang matagal lang yung clearance, lalo na pag pumasok na sa collection/recovery department nila.


Afaik, only home mortgages have a survivor insurance wherein if the principal dies the heirs/spouse will no longer have to pay the remaining loan amount. Car loans and other types of loans do not have this insurance. The heirs will need to pay in full if they want to inherit the property that is mortgaged.

Pag buhay pa yung principal at nakakabayad pa then that means the borrower is in good standing with the bank, walang kaso yan. Pag hindi nakabayad (like in my case kasi nga binale-wala ko yung notice ng annual fees thinking that since i was not using the cc e walang issue, turns out meron, dapat pala sinurrender ko yung cc) then bad standing ka and you need to talk to your bank to return your status to good.

[yebo]

Also, have the compromise agreement in writing - whether by email or hard copy. If by phone, record the conversation. Madami kasing tao makakausap mo dyan sa pagkuha ng compromise agreement and the different departments do not communicate efficiently with each other. It will be a case of "sabi ni ganito ganyan..." and they will have to verify with the person you talked to. At least pag recorded may pruweba ka kung ano yung usapan ninyo. In my case i paid the 2 years fee without penalties and interests then yung sa collection ayaw mag-issue ng clearance kasi meron pa daw naiwan na 1 year plus penalties and interests. So need ko pa pinakilala sila sa isa't isa bago sila nagkaintindihan. And they work in different buildings, 1 in pasay and 1 in cubao.

[sirkosero]

Nooooo! Do you know how many lawyers the banks have in their legal dept? How many lawyers they have on retainer? Or how many lawyers the bank's collection agency have? You will never ever intimidate the banks with lawyers. Never!

Best to call, ask for a compromise/discounted amount. They are not that hard to talk to. Ang matagal lang yung clearance, lalo na pag pumasok na sa collection/recovery department nila.


Afaik, only home mortgages have a survivor insurance wherein if the principal dies the heirs/spouse will no longer have to pay the remaining loan amount. Car loans and other types of loans do not have this insurance. The heirs will need to pay in full if they want to inherit the property that is mortgaged.

Pag buhay pa yung principal at nakakabayad pa then that means the borrower is in good standing with the bank, walang kaso yan. Pag hindi nakabayad (like in my case kasi nga binale-wala ko yung notice ng annual fees thinking that since i was not using the cc e walang issue, turns out meron, dapat pala sinurrender ko yung cc) then bad standing ka and you need to talk to your bank to return your status to good.

I'm actually connected to one of the big banks. I'm not saying you bring the bank to court. Just ask some lawyer friends to review the contracts, then go on from there.

You can also ask help from bsp. Their consumer affairs department help mediate and will not close the case until the parties come to an agreement.

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