what if: I will not pay my bills anymore?

[vinj]

the Civil Law of the Philippines provides exemptions:

- family home
- basic household property
- payroll up to six months worth of living expenses
- tools used for the trade or profession

and what will the bank do to your electric fan, plates and underwear?
they want cash.... and they want cold cash.

that is if they sue.... although i dont encourage it, i've known people who had not paid their cards for 10 years and were not sued.
and if they sue, it is a civil case, for sum of money.

note: i've known this due to my small law background....

Ditto on that... I know of someone who owes the CC company millions (and i mean tens of millions) and the person is still going around freely.

[Ry_Tower]

kung tatawag ako sa CC bank ko, if i insist to have special arrangement to pay all my dues, will they accomodate/approved my request? or is there a turn-around-time para maaprove ko for that arrangement?

Yes, they will accomodate you. Puwedeng fixed na yung amount na babayaran mo at installment mo babayaran. Papayag na sila kesa naman wala sila makuha diba. Just make sure na magaling kang mag-haggle.

So kung hingian ka ng 15-20% interest for 1 year to pay, kunin mo na IMO. Just try to haggle.

[1D4LV]

Sa BAP (Banker's Association of the Philippines) sinu submit yung list ng mga cardholders na umabot na sa legal at walang napiga na bayad

not with BAP, but with CMAP (Credit Management Association of the Phils)
BAP creates policies for the banking industry.

http://en.wikipilipinas.org/index.ph...he_Philippines

[Ry_Tower]

Kung kukuwentahin kasi mas malaki pa cost sa bank kung aabot sa litigation tapos mga below 50K din lang makukuha sa'yo.

EH kung amicable settlement, makuha pa nila principal and maybe a little interest.

Ewan lang kung may bad record ka pa rin kahit settlement na kayo ng CC company.

[1D4LV]

Ditto on that... I know of someone who owes the CC company millions (and i mean tens of millions) and the person is still going around freely.

taas ng credit limit nya vinj ah.... o multiple cards na yan with high limits?

[d'flash]

Yes, they will accomodate you. Puwedeng fixed na yung amount na babayaran mo at installment mo babayaran. Papayag na sila kesa naman wala sila makuha diba. Just make sure na magaling kang mag-haggle.

So kung hingian ka ng 15-20% interest for 1 year to pay, kunin mo na IMO. Just try to haggle.

will call my cc company later, actually, im currently paying my dues, both CC came from 1 bank it HSBC, but naisip ko na itigil ko na yung isa,

[vinj]

taas ng credit limit nya vinj ah.... o multiple cards na yan with high limits?

The person spent close to a mil then nagpatong-patong yung interest. And that's just one of the multitude of CCs. Pinasok ng pamilya sa hospital din since it seems may mental issues din kaya nagka-ganyan sa pera at utang.

[_Qwerty_]

if you ask them to close the CC.. total amount due must be paid... so hindi ka nila papayagan na i close yung account hanggang may amount due..

i already told you, papayag lang sila sa installment.. if you default payment.. halimbawa 1 month ka di magbayad.. then they will call you.. then tell them nahihirapan ka etc etc.. then tsaka mo i open yung installment.. pero since nag default ka na.. may pumatong na agad na malaking interest don and penalty.. plus.. they will add more interest don sa total amount.. bago nila i di divide sa monthly installment.. plus they will ask you to pay for a big amount upfront to cover the cut of the agent and their legal department..

the best thing to do.. is apply for another loan.. maraming banko nag o offer nang mga loans ngayon.. say kung combine CC due mo eh is 100T.. apply for 100T loan sa BDO.. then pay off both your CC.. tapos yung problem sa CC.. tapos yung 100T loan sa BDO.. mababa lang interest nyan.. kesa sa CC interest.. yung 100T loan siguro mga less than 4T per month for 3 years lang..

[Ry_Tower]

if you ask them to close the CC.. total amount due must be paid... so hindi ka nila papayagan na i close yung account hanggang may amount due..

i already told you, papayag lang sila sa installment.. if you default payment.. halimbawa 1 month ka di magbayad.. then they will call you.. then tell them nahihirapan ka etc etc.. then tsaka mo i open yung installment.. pero since nag default ka na.. may pumatong na agad na malaking interest don and penalty.. plus.. they will add more interest don sa total amount.. bago nila i di divide sa monthly installment.. plus they will ask you to pay for a big amount upfront to cover the cut of the agent and their legal department..

the best thing to do.. is apply for another loan.. maraming banko nag o offer nang mga loans ngayon.. say kung combine CC due mo eh is 100T.. apply for 100T loan sa BDO.. then pay off both your CC.. tapos yung problem sa CC.. tapos yung 100T loan sa BDO.. mababa lang interest nyan.. kesa sa CC interest.. yung 100T loan siguro mga less than 4T per month for 3 years lang..

Yup, this could be done as well para again, wala ka bad record.

[_Qwerty_]

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..