credit card debt. can they reposses car as recovery

[_Cathy_]

but does settling in full the debt, to the collection agency, clear one's credit rating?
kasi, the debt to the CC company was never settled...

submitted na the name sa BAP when it's endorsed sa collection agency. After the debt is cleared, that's when the name is removed from the blacklist

Kaya wag paabutin sa agency

[shadow]

submitted na the name sa BAP when it's endorsed sa collection agency. After the debt is cleared, that's when the name is removed from the blacklist

Kaya wag paabutin sa agency

Bank din mag request diba and not the CA?

And pag mag sue talaga si bank din and not the CA diba?

If it is then mas lalo ako hinde magbayad at makipagusap sa mga CA.


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[shadow]

And since wala na rin mawwwala sa akin sira na credit rating ko. Eh di mas lalo hinde ako magbabayad sa mga collection agency dahil I will not reward them sa ginawa nilang sugal sa Account ko.


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[_Cathy_]

And since wala na rin mawwwala sa akin sira na credit rating ko. Eh di mas lalo hinde ako magbabayad sa mga collection agency dahil I will not reward them sa ginawa nilang sugal sa Account ko.


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hindi naman sinugal account mo, at a certain point it's not worth for the bank to run after these people anymore kaya they sell it to collection agencies. I mean, someone has to collect.

[shadow]

hindi naman sinugal account mo, at a certain point it's not worth for the bank to run after these people anymore kaya they sell it to collection agencies. I mean, someone has to collect.

I meant sumugal ang CA sa pagbili ng bulok na account ko hoping kumita sila sa akin. Well, I'm not gonna reward them.


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[uls]

I meant sumugal ang CA sa pagbili ng bulok na account ko hoping kumita sila sa akin. Well, I'm not gonna reward them.


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collection agencies definitely encounter debtors like you described

ung ayaw talaga magbayad

pero successful naman sila sa ibang debtors

di lahat ng debtors matigas

madami lumalambot pag naka experience ng harassment

hehe

[BratPAQ]

I meant sumugal ang CA sa pagbili ng bulok na account ko hoping kumita sila sa akin. Well, I'm not gonna reward them.


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Harassment tactic nila. If you have your office number tatawag sila dun at kung sino maka sagot ipapahiya ka dun. So ka kalat sa office mo na di ka nagbabayad. Kung sa bahay naman, ganun din.

Sometimes they will involve "police" and "lawyer". Ngayon iisipin mo bluff lang kaya to? Totoo kaya magsasampa sila kaso? Baka makulong ako. This will keep you up at night.

May mga bumibigay dahil sa harassment at pressure. Meron naman matigas talaga at hindi magbabayad. Although I never heard anyone nakulong dahil sa Credit card.

[shadow]

Ano pwese nilang gawin, there's nothing to lose Kung baon ka na sa utang.

If somebody is super baon na utang sa card then wala na mawawala sa kanya.


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[uls]

Ano pwese nilang gawin, there's nothing to lose Kung baon ka na sa utang.

If somebody is super baon na utang sa card then wala na mawawala sa kanya.


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gets ko sinasabi mo shadow

meron talaga mga di nagbabayad kahit ano gawin ng collection agency

pero madami sumusuko at nagbabayad

ang importante sa collection agency they collect enough to profit

[dr. d]

Hi guys,

just a question a friend of mine has a credit card debt and ignored the payment since 2016 and meron naman sya sasakyan the question is can the collecting agency repossess the car as payment for the recovery? yung sasakyan naman nya matagal ng bayad

Thanks for your all inputs

they can potentially confiscate many things of commercial value that has your name as owner, to pay for your debt. bahay lupa, kotse, appliances, computer,...
but it has to pass thru due process.

but i think there are items that may be exempt from confiscation...

[shadow]

They can't posses family home and anything na more than yun amount sa utang mo.

I don't think they can posses anything really. Siguro garnishment pwede but other than that. I don't see it. Pero mahirap pa rin yan. Siyempre compute pa rin kung magkano lang pwede nila kunin dahil if payroll account yan compute pa nila yun expenses mo monthly basically hinde ka naman mabubuhay kung garnish nila monthly na sweldo mo.

My question pa rin is if yun car mo ang value is ₱1M and you owe the bank CC 500k. If they confiscated your car which I highly doubt na pwede nila gawin. So susuklian ka nila ng 500k?

Sinong judge ang mag approve sa bank na confiscate yun bahay or kotse to pay for credit card debt? Which I still highly doubt na pwede gawin.

The most siguro is huhulugan mo pa rin yan kung magkano kaya mo monthly pag meron na order and court.

Ganun pa rin compromise pa rin mangyayari. They can't force you to pay 80% ng monthly sweldo mo eh di hinde ka na mabubuhay nun.

So para sa OP kung hinde na kaya ng friend mo magbayad. Huwag na na niya pilitin. Lesson learn.

Hinde makukuha yan kotse niya. Don't worry. Baka ang nagsabi lang sa kanya eh mga collection agent tinatakot siya. Call their bluff and tell them mag demanda na lang sila para hinde na sila mairpaan tawagan siya parati.

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[dr. d]

they might sell it for 500K only, para ma-enganyo agad yung interested buyers.
their interest is only to get paid their due asap, not to sell the item at highest price, which might take a considerably longer period of time.

[shadow]

they might sell it for 500K only, para ma-enganyo agad yung interested buyers.
their interest is only to get paid their due asap, not to sell the item at highest price, which might take a considerably longer period of time.

Paano pa rin nila makukuha? In the first place it's not theirs hinde naman car yun naka collateral sa credit card ah.

Unsecured loan credit card. Sila sumuhal ang based sa background check nila pasok yun friend na bigyan ng Unsecured loan.


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[_Cathy_]

Meron kami tenant na kinasuhan namin for not paying their rent. We won the case, nung hahatakin na yung kotse (and other possessions) natakasan kami. From then on, we don't rent out to lawyers na Pero yung value ng car niya less than his arrears

[_Cathy_]

My question pa rin is if yun car mo ang value is ₱1M and you owe the bank CC 500k. If they confiscated your car which I highly doubt na pwede nila gawin. So susuklian ka nila ng 500k?

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I asked my banker friend na sa cards nagwo work. The properties will be liquidated to pay off the debt

[shadow]

I asked my banker friend na sa cards nagwo work. The properties will be liquidated to pay off the debt

And you think banks will go through all that hassle? Binebenta na nga nila mga delinquent accounts eh.

Banker's talk ng friend mo lang yan.

Ganun gusto nila in a perfect world pero.no judge will grant them that. It will always magusap yun bank and debtor kung magkano kaya niya hulugan.


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[shadow]

I asked my banker friend na sa cards nagwo work. The properties will be liquidated to pay off the debt

Like bahay to pay off yun cc debts? Impossible yan.

Kung garnishment nga hinde nila pwede kunin buong amount ng salary eh dahil meron din expenses yun debtor.

At the end of the day I know it's being guaranteed by govt yun unsecured loans like CC either thru tax rebate or something, kaya doble pa kikitain ng banks diyan pag naka singil siguro collection agency. Kumita na sila sa pagbenta ng delinquent accounts meron pa sila cut sa na collect ng CA.


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[sirkosero]

I asked my banker friend na sa cards nagwo work. The properties will be liquidated to pay off the debt

I know of a similar incident. House and lot and a car was taken by the bank. Employees were offered to buy the properties pero mahal (i inquired kasi) so binenta as one the foreclosed properties of the bank.

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[_Cathy_]

Paano nga nila makukuha kung naka loan pa mga properties saka kotse?

So mababalewala yun rights ng bank kung saan naka loan mga yun? Priority yun bank na meron utang sa CC?

Paano kung walang assets yun delinquent CC holder?

Anong kaso? Civil lang diba? Eh wala na makukuha nga dahil wala na talaga siyang anything under his name.

Let's say meron siyang kotse, bayad na pero "isanla" niya kunwari sa friend niya or relative ulit then gawa ng contract way bago pa makuha ng bank which I really doubt na gagawin nila just for CC debt.

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I don't know know the details on how the bank or CA deals with delinquent card holders with assets that are still on loan, pero kung WALANG ASSETS - renting, no car, no cash/job, sorry na lang yung bank/collections agency (pero kung iisipin mo, ang pitiful na ng tao na ganyan ang situation)

I know of a similar incident. House and lot and a car was taken by the bank. Employees were offered to buy the properties pero mahal (i inquired kasi) so binenta as one the foreclosed properties of the bank.

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hello shadow, maniwala ka na

re bank employees, it pays to have friends sa branch talaga LOL. My Mom is good friends with a branch manager and she informs us if there are good buys, pero superstitious kasi kami na parang malas sumalo ng nahatak na car or foreclosed property

[shadow]

I don't know know the details on how the bank or CA deals with delinquent card holders with assets that are still on loan, pero kung WALANG ASSETS - renting, no car, no cash/job, sorry na lang yung bank/collections agency (pero kung iisipin mo, ang pitiful na ng tao na ganyan ang situation)



hello shadow, maniwala ka na

re bank employees, it pays to have friends sa branch talaga LOL. My Mom is good friends with a branch manager and she informs us if there are good buys, pero superstitious kasi kami na parang malas sumalo ng nahatak na car or foreclosed property

They can't touch it of course! Sa bank kung saan naka loan ang owner ng properties pa rin.


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