DISKARTE_Guidelines on Credit Paranoia

**mark_t** · February 28th, 2009 06:04 PM

Originally Posted by actor21

i see, sige gagawin ko to, kaso ihahanda ko na sarili ko sa mga MURA ng mga collecting agents nila...kakabanas madugasan...since 2006 pa nila ako card holder
wala ako problema sa kanila tapos dahil sa promo nagkakaproblema tuloy ako

You dont have to do that, accepting collector's BS.
Accept the call and tell them that you will deal with your bank only,
period. Unless they want to pay for damages.

If you want to prepare for them, find out the telephone number of
the nearest police station so you can have them arrested for extortion
when they come to visit you. Let us hope response time will be under
5 minutes. It is a good way to know exactly the response time of
the police in your area.

That way their lawyers or law firm can post their Bail or Fine.

That will be 200 pesos for the Republic of the Philippines.

Consider it your contribution to nation building.

And the magic word is

Mr. Policeman I want him Arrested.

**actor21** · March 1st, 2009 10:27 AM

^^ pag minumura ka ng collection agent fax your complaint to the customer service division of the CC company...there's this guideline that sanctions this practice of harassing the clients...pag nag start na siya magmura ibagsak mo telepono ng pagkalakas...let him take his own dose of medicine.

btw, sa complaint mo don't forget to state the date and time when the harassment happened. and well, pwede din yung assumed name ng agent...include mo na rin

thanks ma'am noted po..

*mark_t
actually nahihiya ako don sa NBI Lawyer college buddy ko, pwede nya daw ako tulungan since Brgy Chairman ng San lorenzon brother nya and sakop ng san lorenzo ang standard chartered..pero kung me manghaharass sakin papadampot ko talaga sa kanya

**mark_t** · March 2nd, 2009 04:14 PM

And this is from the official website of the RP

http://forum.gov.ph/default2.asp?catid=23

Kawawa naman yon mga nasinggil ng collection firms, nagbayad na sila ng
credit risk insurance sa mga purchase nila, nagbayad pa uli sila sa mga law
firm na wala naman sila utang.

Katulad ni marathon

http://tsikot.yehey.com/forums/showt...t=53883&page=3

120k!? ni hindi nya na audit.

BSP(cir398 s.2003)part of which reads: "Subsecs.X320.5 and 4301N.4 Accrual of interest earned. Interest accrued and/or booked shall be reversed and no accrual of interest shall be allowed ninety (90) days after the credit card receivable has become past due as defined in Subsec.X306.1 of the Manual of Regulations on Banks."

Dapat pala ma frozen ang principal amount after 90 days from
default.

I suppose this is to protect the insurance industry. Kundi malulugi
insurance co dahil wala na additional purchase hence additional
premium.

Grabe nakaka puyat.

**Galactus** · March 2nd, 2009 04:59 PM

BSP(cir398 s.2003)part of which reads: "Subsecs.X320.5 and 4301N.4 Accrual of interest earned. Interest accrued and/or booked shall be reversed and no accrual of interest shall be allowed ninety (90) days after the credit card receivable has become past due as defined in Subsec.X306.1 of the Manual of Regulations on Banks."

Dapat pala ma frozen ang principal amount after 90 days from
default.

You totally misread that specific provision in the MORB.

The non-accrual of interest for bad debts is meant to stop the undue bloating of assets of the credit card company. It is not meant for the protection of the credit card debtor.

Yung ibang banks/card companies kasi, patuloy pa rin ang pag-accrue ng interest on bad debts, and they reflect it on their books, kahit ilang taon nang delinquent yung account. Kalokohan yun, hindi na nga masingil at nababayaran, tapos kina-count pa as receivables yung accrued interest. In effect, artificially inflated ngayon yung asset base ng card company, eh toxic naman ang composition ng accounts receivables. This is what the BSP is trying to prevent.

The card company can still accrue interest even after 90 days nang non-performing yung loan, and demand the same from the borrower.

As I keep saying in another forum, huwag mangutang ng hindi naman kayang bayaran.

**leonleon** · March 2nd, 2009 07:17 PM

Originally Posted by tidus1203

Bottomline wag ng umutang kung di naman kayang bayaran para iwas na din sa ganyang gulo... Live within your means people preferbbaly below your means if possible...

+1 on this.

**CVT** · March 3rd, 2009 08:46 AM

During these trying times,- lalong dumarami pa ang nagsasamantala....

7606:mobile1:

**mark_t** · March 3rd, 2009 01:12 PM

Originally Posted by Galactus

You totally misread that specific provision in the MORB.

The non-accrual of interest for bad debts is meant to stop the undue bloating of assets of the credit card company. It is not meant for the protection of the credit card debtor.

Yung ibang banks/card companies kasi, patuloy pa rin ang pag-accrue ng interest on bad debts, and they reflect it on their books, kahit ilang taon nang delinquent yung account. Kalokohan yun, hindi na nga masingil at nababayaran, tapos kina-count pa as receivables yung accrued interest. In effect, artificially inflated ngayon yung asset base ng card company, eh toxic naman ang composition ng accounts receivables. This is what the BSP is trying to prevent.

The card company can still accrue interest even after 90 days nang non-performing yung loan, and demand the same from the borrower.

As I keep saying in another forum, huwag mangutang ng hindi naman kayang bayaran.

Sorry my mistake, thanks for the explanation.

Question: Why would banks let collection agencies collect debts without written authorization
from the banks.

**Galactus** · March 4th, 2009 09:01 AM

Question: Why would banks let collection agencies collect debts without written authorization
from the banks.

They don't. Banks have to enter into a MOA/contract with the collection agency to allow the latter to represent them and act as their agent/s with regards to collection.

Wala pa akong nabalitaan na collection agency na nangongolekta from delinquent borrowers without authorization from the bank. Fly by night collection agency lang ang gumagawa n ganun.

**CVT** · March 4th, 2009 09:33 AM

Originally Posted by Galactus

They don't. Banks have to enter into a MOA/contract with the collection agency to allow the latter to represent them and act as their agent/s with regards to collection.

Wala pa akong nabalitaan na collection agency na nangongolekta from delinquent borrowers without authorization from the bank. Fly by night collection agency lang ang gumagawa n ganun.

Malimit, namomorsiyento ang mga collection agencies, kaya pursigido silang makakuha ng bayad.... Ang mga bangko naman, willing na magbigay ng malaking porsiyento sa mga collection agencies kaysa mauwi sa pagiging bad debt ang mga ito.....

7606:mobile1:

**Horsepower** · March 7th, 2009 05:48 PM

Originally Posted by mark_t

No offense taken, I like it because I am new to this internet thing and
I could have ended on another one of those **** sites.

I have not read thru all the threads as I have just found it 2 days ago but I
will. First you can never run from your debts. Come on, 30 years daw kung
me property ka na puede sila habulin. Most housing loans go 25. So these bank can and will get you. It is just a question of when.

Maybe the blogger believes he can get back to who ever offended him
for missing his payment. But I dont care.

But whatever he is doing he probably has a point. Those collectors do not have a right to those payments. I have read that some of the members paid these collectors and these collectors have not remitted their payments. There are members who will pay but not just yet as they have no money left. And if you get sued, the verdict or order will always be pay
the principal at 12% per year interest. So the bank will always get their justice.

I am not sure what his intentions are, He may not even be a banker.
But what I like about his site is helping these people cope with their
troubles. For whatever it is worth.

I honestly believe that deep inside all those debtors will pay those loans
if they can and when they can. But not just yet. The same way I believe
that someday all those street chidren, palaboy, pulibi, yagit and walang
breeding will have a place of their own. And all those useless dregs of society can be useful someday as battle field casualty replacements in
defending these islands of ours.

I dont think what they are doing is bad, simply because it is not criminal.
The same way I think that the 56% interest per annum the bank charges
is not criminal because it is not. About the morality of it, ah I leave that to the moralist.

There you are, what I like about the site and I am not done yet.

1. The banker helping these people cope with their troubles.
For whatever it is worth.

2. There could be justice from those usurers by going thru the courts.
that is not surprising but I did not know that.

3. It exposes the fraud of these raket. (credit cards, collectors and debtors)
I did not know that.

PS.

I dont care about the collectors, they are BS to me.

Whether or not you go to a **** site is none of our concern.

Perhaps, we can't run away from debts but apparently that's what the site is advocating about. Keyword: Diskarte.

Whether the blogger is a wuss who got offended by collectors is none of anybody's concern either.

Let's clarify one thing: Banks are businesses and so are collecting agencies, as a CC user, you willingly chose to be part of that system.

Collectors are hired by banks to get back what's due them - ergo, they have the right to the payments. Those who paid the collectors are, plain and simple, idiots. Of course you have to pay to the bank (or to whoever you owe to), NOT to the collector.

NOTE: As a terribly busy person, I have experienced non payment of credit card bills too, though not mine, (and some utilities) - and yes, got collector calls.

When I went outside the country and my then gf followed after, when I got back, i thought she settled all the accounts and to my surprise, we both forgot her cc bills. Got a call from the collection agency, talked to them like an educated person should and everything was settled in an instant. I wrote them a check and had it deposited in the nearest branch of the bank (not the collector's) near my house. Though the bank was already closed at that time (it was a Friday), I had it opened past its business hours by apologies and pleas.

That's it.

Frankly, I don't see any reason to fret over a collector.

Also got a collectors call from a law firm over non-payment of my then ISP bills (dial-up type). Knowing i didn't do anything wrong, it didn't scare me one bit. When I was informed I failed to pay the last month when I had it disconnected, I told them to check again while i check mine. I realized, I missed because I had a vacation at that time. So again, I paid it in the bank to their account (of the ISP, not the collector), faxed it to the collector and to the ISP. Got a thank you note.

It's quite obvious that he's not a banker. I personally know some bankers (people who own and run banks) and they're very good in handling money. They don't spend unnecessarily too. Stingy at some point so they never experienced being buried in debt - because they never contemplated about doing so in the first place.

Maybe he's "banking" on something? hehehe.

To be honest, the thing that disgusted me was the use of the word: God blah blah blah.

It's extremely like some of those religions using the Supreme being's identity to amass money from gullible people - it's called religious banking. :bwahaha: