what if: I will not pay my bills anymore?

[vinj]

pag na tag ka na as bad credit.. hindi lang credit card di mo makukuha.. you can't apply for car loans.. housing loans.. yung list pa naman dito sa atin.. once na nandon ka na.. hindi na natatanggal..

It's bad enough na nga pag may ka-pangalan ka na may bad record (delays to your credit applications, you have to make affidavits, etc.).

[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.

[d'flash]

nakatawag na ako, pero ang sabi need ko daw ifully settled yung due ko, kaya i cannot deactivate my account, ayaw siya pumayag sa arrangement na sinabi ko, nagusap kami for more than 30mins, and still ayaw niya pumayag.. any other way? to convince them? or baka kaya di sila pumayag kasi di pa nila na-justify na di ako nagbabayad tlaga? ganun ba yun?

[1D4LV]

nakatawag na ako, pero ang sabi need ko daw ifully settled yung due ko, kaya i cannot deactivate my account, ayaw siya pumayag sa arrangement na sinabi ko, nagusap kami for more than 30mins, and still ayaw niya pumayag.. any other way? to convince them? or baka kaya di sila pumayag kasi di pa nila na-justify na di ako nagbabayad tlaga? ganun ba yun?

told you so.
the only option is what Qwerty said.... Default first, then if they call, request for an arrangement. Dun pumapayag sila.

[Retz]

^

sabi ko nga hindi pwede deactivate account kasi hindi ka pa nga nag babayad. saan account ka babayad kung wala ka na account diba. anong ayaw nila pumayag sa installment payment ba?

[uls]

borrow money from a relative or friend to pay off your CC bill

then you pay that relative or friend installment no interest

[d'flash]

told you so.
the only option is what Qwerty said.... Default first, then if they call, request for an arrangement. Dun pumapayag sila.

so they really need to see na im not paying?? so they can approve my request?

[_Qwerty_]

yes, but doing that, it could add a few more thousands of pesos from your CC for interest, late payment, etc...

best way as i said, to borrow money from another bank.. aggressive ang lending nang PSbank and Chinatrust.. dami namimigay nang flyers.. same day processing.. then pay off your CC bill.. it's called consolidating your debts..

so they really need to see na im not paying?? so they can approve my request?

[_Qwerty_]

then DO NOT do it again.. learn from this..

[1D4LV]

so they really need to see na im not paying?? so they can approve my request?

yes.... BUT there can be two sides of the coin:

a) The bank calls..... Offer an installment arrangement.... It is very likely that they will approve your request.
b) A collector calls... Claiming he is from the bank... Don't offer with him.... It is likely na hihingi sya ng deposit, tapos sasabihin, hindi approve yung proposal mo.... Tapos pababayaran sa iyo ng buo.... What happened to your deposit? It goes straight to his pocket...

[d'flash]

^

sabi ko nga hindi pwede deactivate account kasi hindi ka pa nga nag babayad. saan account ka babayad kung wala ka na account diba. anong ayaw nila pumayag sa installment payment ba?

oo sa installment ayaw nila, di ko siya pinapadeactivate, bale ganito sabi ko sa taga HSBC, hindi ko kasi alam kung tama ang terminologies ko, sabi ko is, baka pwede isuspend na yung account ko, ang gusto kasi mangyari is huminto na yung interest niya, and im gonna settle all my dues via installment basis, ang sabi ni agent di daw possible, tas my sinasabi siya, pero ang pagkakaintindi ko ang gusto niya sabihin, di pa nila najujustify na di ako nagbabayad, so i need to default muna,

[d'flash]

yes, but doing that, it could add a few more thousands of pesos from your CC for interest, late payment, etc...

best way as i said, to borrow money from another bank.. aggressive ang lending nang PSbank and Chinatrust.. dami namimigay nang flyers.. same day processing.. then pay off your CC bill.. it's called consolidating your debts..

how can i borrow from banks if i had bad credit status?

[1D4LV]

yes, but doing that, it could add a few more thousands of pesos from your CC for interest, late payment, etc...

best way as i said, to borrow money from another bank.. aggressive ang lending nang PSbank and Chinatrust.. dami namimigay nang flyers.. same day processing.. then pay off your CC bill.. it's called consolidating your debts..

the only problem here is that you are borrowing from Juan to pay off Pedro.

sa cc mo, may interest.... kung hihiram ka ulit sa isang bank, yung hiniraman mo may interest, para ipambayad sa principal at interest ng isa pang bank.

and PSB and Chinatrust charges around what? 3 to 3.5% interest per month too? and they require PDCs. Pag hindi mo sya nabayaran in the future, mas mabigat ang kaso mo, which is BP22, or much worse, estafa. a criminal case. Kung ganyan mangyayari, much better off na hwag na lang bayaran yung cc, dahil kung kasuhan ka man ng bangko, civil case lang.

your three options:

a) borrow from a relative.
b) borrow from SSS or Pagibig or both (kung kakayanin bayaran yung utang mo)... Maliit ang interest. If these institutions charge around 8% PA interest, maliit yun, compared to the 3.25% per month interest ng banks.
c) check to see if your company provides a loan or a financial assistance program.

After paying it off, close it. Cut your card and Use cash or debit card na lang.

[uls]

Malls are evil

[Retz]

oo sa installment ayaw nila, di ko siya pinapadeactivate, bale ganito sabi ko sa taga HSBC, hindi ko kasi alam kung tama ang terminologies ko, sabi ko is, baka pwede isuspend na yung account ko, ang gusto kasi mangyari is huminto na yung interest niya, and im gonna settle all my dues via installment basis, ang sabi ni agent di daw possible, tas my sinasabi siya, pero ang pagkakaintindi ko ang gusto niya sabihin, di pa nila najujustify na di ako nagbabayad, so i need to default muna,

monthly kasi ung interest. kaya lumalaki yan habang pinapatagal mo. may minimum amount due naman diba?

[_Qwerty_]

no... mababa lang interest if you borrow money.. nasa 1 to 1.5% lang per month.. compared sa interest nang CC.. kaya nga in the long run.. mas ok yung isa na lang utang mo.. tanggal yung problem sa credit card.. then pay the money you owe sa bank in installment.. ofcourse may interest din.. sa BDO nga yung 100T loan nasa 3T+ lang in 36 months..

[1D4LV]

monthly kasi ung interest. kaya lumalaki yan habang pinapatagal mo. may minimum amount due naman diba?

tama si retz, hook or by crook, try to pay muna the minimum amount.... hwag mo na lang isipin ang interest. its the risk that comes in using credit cards and loans. its better off than having to lose sleep at night dahil sa harassment ng mga collectors.

mind if i ask, how much is your outstanding balance dun sa card na binabangit mo?

[1D4LV]

no... mababa lang interest if you borrow money.. nasa 1 to 1.5% lang per month.. compared sa interest nang CC.. kaya nga in the long run.. mas ok yung isa na lang utang mo.. tanggal yung problem sa credit card.. then pay the money you owe sa bank in installment.. ofcourse may interest din.. sa BDO nga yung 100T loan nasa 3T+ lang in 36 months..

if this is the case, then this can be an option too.
but 1.5% monthly equates to 18% PA too. mataas pa din.
i think SSS and Pagibig gives it at 10-12%.
baka may salary loan program din kayo dyan sa office na mas mababa pa sa 10%, sungaban mo na.

[d'flash]

tama si retz, hook or by crook, try to pay muna the minimum amount.... hwag mo na lang isipin ang interest. its the risk that comes in using credit cards and loans. its better off than having to lose sleep at night dahil sa harassment ng mga collectors.

mind if i ask, how much is your outstanding balance dun sa card na binabangit mo?

done this before, for example, minimum due ko is 1500, ill pay 1500 before my due date, pero ang nangyayari kasi. for example total outstanding balance ng CC ko is 35000 minimum payment is 1500, so nagbayad na ako. e di 33500 nalang, dadating ang bill ko for next cut off ang finance charge niya is 1500 din, sao balik nanaman sa 35000, dun ako naiinis, nung november ko pa hininto ang paggamit ng CC and decided to settle it out and deactivate the card, but it seems im just paying for the interest, kaya nagsawa na ako magbayad,

[d'flash]

if this is the case, then this can be an option too.
but 1.5% monthly equates to 18% PA too. mataas pa din.
i think SSS and Pagibig gives it at 10-12%.
baka may salary loan program din kayo dyan sa office na mas mababa pa sa 10%, sungaban mo na.

yes i think ayala coop mababa lang interest