what if: I will not pay my bills anymore?

[d'flash]

im just curious



anong mangyayari pag di ko na binayaran ang bills ko? will bank sue me?
or for example i have two CC pero same bank lets say hsbc, yung isang card lang ang babayaran ko ng maayos, while yung isa di ko na babayaran. masususpend din ba yung isa kong card kahit maayos ang pagbabayad ko?

[fireblade]

why default? do you want a borrower of yours to not pay you?

[vinj]

There's a cross default clause in the bank hidden somewhere in your written contract/s. If you're not good in one obligation, they can have reason to suspend the other lines or they can even move to attach your deposits.

Basically they'll try to make life harder for you until you pay up. After you pay up, the record of nonpayment will still bug you.

[Retz]

alam ko walang nakukulong dyan.

[CVT]

Bro.,- don't even think about it...

With the network now,- it will haunt you for the rest of your life.

18.2K:soccer2:

[Mguy]

In short, its a bad move for you, not only now but in the future as well. Here are the things that could go wrong.

1. You'll get harassed by collection agents day in and day out. Even your workmates at the office and relatives will get to find out you are not paying your bills.
2. Other CC companies will not extend your credit after expiration date.
3. You will either have a hard time (or possibly not get) any housing, car or personal loans from lending agents and banks.
4. I'm working at the banking industry and right now, recruitment are checking if you have past dues and they will not hire you if you have. Not sure for other industries if this is the practice.
5. If you think you had enough of the above and want to migrate to another country just to get away from it all, you will be possibly denied of a visa if you have past dues.

My suggestion is, borrow money from relatives, pay it in full and get rid of the credit card as it appears that you can't manage it. Then pay your relatives when you are capable. enough.

[fourtheboys96]

im just curious



anong mangyayari pag di ko na binayaran ang bills ko? will bank sue me?
or for example i have two CC pero same bank lets say hsbc, yung isang card lang ang babayaran ko ng maayos, while yung isa di ko na babayaran. masususpend din ba yung isa kong card kahit maayos ang pagbabayad ko?

kahit maayos yung pagbabayad mo dun sa isa, mag-rereflect pa din yung bad record mo sa isang hindi mo binayaran.

[1D4LV]

yes, ang alam ko. pati yung isa madadamay.

[Retz]

Actually dyan kumikita mga CC company sa mga dues. Ang taas ng interest. If you pay on time, wala sila nakukuha imo.

[d'flash]

any possibility that i can request to deactivate my CC, and pay it in installment basis?

[_Qwerty_]

you need to default payment.. bago nila i o offer to.. pero papatungan nila nang interest yan.. baka half of the amount you owed them.. tsaka i di divide kung ilang months..

any possibility that i can request to deactivate my CC, and pay it in installment basis?

[Retz]

Paano mo mabayaran kung na deactivate na. Saan account no. ka magbabayad nyan....

[Mguy]

any possibility that i can request to deactivate my CC, and pay it in installment basis?

Yes you can. They can restructure your dues over a certain period of time. If you come clean and honest sa kanila, stating for example that you fell on hard times and would not be able to pay the dues immediately, they can provide you some options and you choose kung ano ang kaya mo.

Make sure lang that after you had paid all your dues, ask for a receipt or a letter that you had settled it. You'll be surprised that after a few years, collecting agencies will bug you for your supposed 'outstanding due' that you actually had paid. But that's another story.

[_Cathy_]

Wala naman nakukulong sa hindi pagbabayad ng CC. The worst that can happen (depending on the amount of your debt) is for your belongings to get sherriffed.

Instead of allowing one card to get terminated due to non payment, just pay both cards partially. If both cards are issued by one company and one card gets terminated due to default, the other card could be affected too. If it's another bank that issued the card, it's not gonna be a problem YET.

Note that there is a shared database among card companies. If you default in one credit card company, all the other card companies will know. Then you will have difficulty applying for a new credit card in the future. What you can do is close the card that you are having trouble with and request for a settlement. The card company will probably waive some dues and interest because that is better than getting nothing.

[1D4LV]

any possibility that i can request to deactivate my CC, and pay it in installment basis?

i dont think its possible.
bank policy, if you close it, pay it in full.

[hein]

any possibility that i can request to deactivate my CC, and pay it in installment basis?

Yes, you can do that. Just talk to your bank officer.

Down to 1% a month yung interest until debt is payed up.

[Mguy]

Actually dyan kumikita mga CC company sa mga dues. Ang taas ng interest. If you pay on time, wala sila nakukuha imo.

Actually, when you pay using your card, may percentage cut ang mga cards sa mga purchases mo. That is why you see that cash price is a lot cheaper than card prices. Malaki rin cut nila dyan.

[Retz]

Actually, when you pay using your card, may percentage cut ang mga cards sa mga purchases mo. That is why you see that cash price is a lot cheaper than card prices. Malaki rin cut nila dyan.

o nga pala sir. how many percentage cut nila? baka maliit lang? ung interest tingin ko ung malaki talaga.

[beni23]

Be careful, meron na ngayong system for blacklisted persons. I just forgot kung ano tawag nila dun. Tinitignan yun ng lahat ng companies, before they hire you, they let you borrow, or for whatever purpose it may serve.

Sent from my iPad using Forum Runner

[1D4LV]

Be careful, meron na ngayong system for blacklisted persons. I just forgot kung ano tawag nila dun. Tinitignan yun ng lahat ng companies, before they hire you, they let you borrow, or for whatever purpose it may serve.

Sent from my iPad using Forum Runner

not all companies, imho. but if you are applying in banks, chinecheck nila yun.