So now after a couple of years in Just-swipe-it Heaven, you find yourself in Barely-scraped-through-minimum-payment Purgatory heading towards Tell-them-I’m-not-here Hell!
For those of you who are inevitably plummeting down credit card debt hell, let me soften-up your landing a bit. And for those already wailing and gnashing their teeth from debt heat, let me ease your suffering a bit with a bucket of ice water.
That’s right folks, there is hope and respite from your credit card woes. But no, I’m not gonna help you pay. All I’m going to do is enlighten you a bit with regards to your situation.
Pop Quiz: You’re receiving maddening calls from seemingly very angry people calling you names, looking for you wherever you are, asking you to pay up.
What to do hotshot: Take the call if you can’t avoid it. Relax, take a deep breath, and sit down comfortably. Answer with a simple yes or no. No need to explain yourself, they’re not there to listen to you whine, they just want your money.
Now most of them will come on to you like mafia dons, shaming you with your inability to pay, threatening that they’re coming to get you and that slab of flesh from your behind.
Well, that’s what they think!
When that guy on the phone starts to raise his voice, just tell him this: "Mister, stop play-acting. I don’t owe you any money, you’re just a poor employee collector agent whatever, so don’t act as if it’s your money I owe."
Now that he has realized you’ve caught him in his act - (yup, that’s all it is, just an act, so relax!) -he can’t possibly get on with it anymore. Whatever he says afterwards will sound flat to you and to him too, like you’re hearing an old joke. Besides, he can’t really be mad, he’ll probably get a commission when he collects from you.
Some of these credit card collectors may try to harass and put you in embarassing situations and even if you're able to put them in their place, you find that the damage has already been done. Well, just grin and bear it, but I'll tell you this: It's just a phase. It will pass.
But what if the caller sounds like an angel from up high? Gently reminding you that you need to pay up or else...
He’s playing the good cop act then so just ignore the ‘or else’ stuff too. But this would be a good time to work-up a deal, just make sure it’s on your terms. Tell him how much you can comfortably pay in a month. If he relents, fine, but if not, you can go hang-up that phone. Don’t worry, he’ll call back. And be it good cop or bad cop, you’re gonna be ready.
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Related: The Letter, The Visit, Conclusion
Next… THE LETTER
u seem to know so much about delinquency. let me guess: either uv been a collector before or you just enjoy piling up your debt and not paying at all.
ReplyDeleteI was once as desperate as those who posted in this forum -> http://www.gov.ph/forum/thread.asp?rootID=34806&catID=23.
ReplyDeleteBut before that, I looked at those who had problems with credit card debt as wannabes who really can't afford it in the first place. That was until...
Well anyway, I'm not endorsing non-payment of debts. My point is, if it's a choice between a square meal for your family or paying your credit card debt, heck, buy that meal.
Thank you Argus Gable, you are a hero to a lot of us.
ReplyDeleteI really cant forget those experiences made by tele collector threatening me if I cant pay my debts,though I was able to pay partially before when I'm not getting sick then, but they dont really care at all. They even called me names, even my parents were not exempted by their acts. Do they really have the rights to condemn people having financially problem?
ReplyDeletehello po...ask ko lang may tumwag kase dito sa office from prossecutor office daw xa... ipapadala nya na daw yung souphina ko on the next daw, ngayon pag hindi daw ako nag attend sa hearing pwede daw akong bigyan ng warrant of arrest..kelangan ko na ba mag panic...kase nung nagamit ko yung Credit card once ko lang xa nabayaran, and ito lang sep 29 this year....and ayaw nila pumayag na hulugan ko...what will i do?
ReplyDeleteThe best thing you can do is; don't panic. Also, you have done your part; showing your willingness to pay. If they say they're sending you a subpoena, then just wait for it. If it doesn't happen as they say it would, then that should make you realize that they're just trying to scare you.
ReplyDeleteDon't get tired of answering their calls and continue offering them terms you can really afford. Don't let them scare you into terms you can't afford.
would it be better to just pay continuously as the interest increases or negotiate with the bank? im afraid that if in negotiate, they would make me sign something. i really dont know how to deal any officer if ever i negotiate. =(
ReplyDeleteThe best thing you could do is
ReplyDelete1. Stop using your credit card.
2. Take out a loan with a lower interest rate than the one your credit card charges and which has a monthly payment you can really afford. The SSS Salary Loan is a good example. Then use the proceeds from this loan to pay off your credit card balance.
In this way, you avoid paying your credit card's monthly interest which is really too high, and also avoid having to negotiate with the bank.
hi.. i just really need your advice, so same situation credit card thing, i usually pay my bills monthly, kaso last april until nw I work abroad, i still remmit some money and ask my mom to pay my bills,then even im abroad i email the bank to send me bill of statement for me to know my outstnding bal. i evn gave all my info's, they told me they'll fax back but i havnt recieve even 1 doc. recently my mom recieved a letter fr a leagl councel stated der dt i have to settle this amount in a short givn time, then I was so shocked wen my mom told me the outstading bal.nt even xpectng that was my outstanding bal. then i recieved a txt frm them that there is a criminl complaint against me (violation of RA 8484)so I scared coz dis is my 1st time to encountr such situation, can u advice me on what to do? actually im planning to call the person on mon. ang settle w/ thm and ask for terms of pymnt, can u help on what to say to thm. tnx a lot,, (pjei fr. SG)
ReplyDeletePPJJ,
ReplyDeleteHi. If you can account for all your payments and credits, its better if you write a letter or email to your bank and state your case. Don't worry about the text, letter or call from the collection agency. Resume communication with the bank and tell them there might be some mistake in their billing. Assure your mom and the rest of your household that it's nothing and that they have nothing to be afraid of, even when the collection agency starts to get rude or annoying.
If you think though that the billing is correct and you want to settle, make sure you don't get intimidated when you call the agency. Calculate beforehand what you can afford to pay and don't give in if they demand something unreasonably higher.
Everything's ok.
hi thank you po sir sa reply, im so scare dyou knw kya na research ako about it, buti nla i found this site,, God bless
ReplyDeleteMr. AG,
ReplyDeleteYesterday i was about to search on how to handle CC problems, since this gay agent from AIG keep on calling me and wanted to pay me in COLD CASH the amount of PhP17, 400.00 sabi nya kasi I can pay na lang half of my debt dahil discounted na yun, since I owe them 34, 800.00
Siguro my mistake lang din kc na i promise to pay it on or before the 15th of December, then this week lang he keeps on calling sa mobile and office number, super foul words na talaga...
what are the best ways to do kc I have 6 CCs, ang active at binabayaran ko lang dun is EASTWEST,BDO,HSBC and Metrobank...
the banks EPCI AMEX, AIG and UNIONBANK hindi ko na binabayaran, worst is may napirmahan ako sa UNIONBANK, na I will pay that exact amount..hindi ba ko makukulong dun? its only 12k...
thanks
hope you could help!
Sundei,
ReplyDeleteDon't promise anything you can't keep.
If you're paying multiple cards, I think you'd be better-off if you use the money you pay the other cards and completely pay-off 1 card first. Start with the card which charges the highest interest rates or the one which you could get to zero faster.
I don't think you'll go to jail.
Happy Holidays!!
Financial problem is everywhere they have no right to scare you like that. But they do it I know because my friend had a bad experience like this. This surely teaches many of us a lesson here.
ReplyDeleteActually I am having problems too right now. Im actually getting married soon and with all the wedding expenses I wasn't able to budget my money. Just a question, would you know how many months it would take before your name appears in their BAP or Adverse Findings? Thanks.
ReplyDeleteHi Anonymous,
ReplyDeleteBanks usually submit 'adverse findings' every month.
'Adverse findings' usually affect applications for loans which are unsecured (no collateral loans). And a lot of people have 'adverse findings' whether or not they mis-used a credit card.
Congrats on your upcoming wedding!
AG
hi
ReplyDeletei just wanna ask hv credit card in BDO and Citibank and i sign in payment arrangement but since i am now financially incapacitated and i cant pay for my monthly bills, just wanna ask if they can file me a case regarding that matter, please help me.
thanks
Hi Betzki,
ReplyDeleteThey make us sign so they can take us all to court if need be.
So yes, they can file a case against you.
Welcome to the club. Hehehe.
Nice blog on marriage. So true...
I, too, have the same predicament. I have 7 credit cards under my name. I have been such a good payer until June of last year, when BDO Amex gave me a hard time because of a misposted payment.
ReplyDeleteI have called them numerous times to try to work it out until such a time that I was finding it exhausting since they always ask me to keep repeating my concern, as if I didn't explain myself 10000 times. They were the only credit card company which made me cry because of Frustration.
Anyway, so out of pride and the refusal to pay since they have no concern for me and my plight, they blacklisted me and therefore was denied from every loan application I tried to get from other loan companies, which for my salary range should not have been a problem. Because of this, I got so angry with BDO, that even my BDO Credit Card, I decided not to pay.
I recently got the "demand letter" after several harrassments made to my mom. Fortunately my 75 year old mom is still healthy or else she would have died bec of their harrassments.
I consulted my lawyer friend and she suggested for me to pay for it. I said even if I can TRY to work it out, it would be like doing THEM a favor. Plus, I don't think they would erase me from the black list anyway? Or would they?
About my other 5 cards.
ReplyDeleteOf course, I have my Citibank card. I had called them before, asking for a payment arrangement since i am over-extended because of all the bills and tuition payments I had to make, which is of course, my current priority.
They wouldn't grant me a good deal since they were saying that my salary was less than all my projected expenses (Isn't that what "over-extended" means?)
I owe Citibank a lot, and I really want to pay them, but they are not giving me any other option but to miss my payments, ergo adding more fees and finance charges to my balance, which is really frustrating. Here is someone who wants to settle her debt but you are just giving her a very hard time. Sometimes, I would just want to give up and just ignore ALL my card debt because of my current financial situation.
Just wondering, if I do that, would it affect my SSS or PAG-IBIG loan applications?
Hi JeMe,
ReplyDeleteI believe the "black list" is something more like credit history information. And it's not only for credit card debt but for other institutions as well. Having a past due account in a telecommunication company can get you on that list. So I don't think it's something that gets erased. What more likely happens is, they look at your history and decide on whether the information there is still relevant or not.
It won't affect your SSS and PAG-IBIG loan applications.
hi! i have a bdo credit card which they voluntarily issue to me, since they thought i have a lot of money from my personal bank account w/ them, which in fact is my mothers'--who just used my name since she cannot open up her own bank account due to insufficient id verification..so, i fall for the trap, of course.. now, the last swipe i made was on november 2008 - no payment until jan2009.. now, just the same things happen to me, received phone calls, demand letters from different law firm.. but just the other day, my sister told me they called our home, and say that they're gonna take things out of our house (my parent's house) because that is the address they have on their file.. is it possibLe? do they have the right to do that? i know they are mere collecting agents.. i read from this blog about the JSS thing.. what is this? anyway, i also mentioned above that i have a savings account with them, do i need to take all the money out? can i still open an account with other banks? Like BPI? i remember before that when my father has issues w/ citibank, he was prohibited opening a new bank account with BPI.. is it reaLLy their practice?
ReplyDeleteanyway, i am also running away from citibank.. is it okay if i ignore them? cuz, i reaLLy don't have money to pay for them.. can i just ran away from them, even though they know where i live?
thanks for your heLp..
angeL
Hi Angel,
ReplyDeleteNo, they cannot take anything from your house or your bank account. They first have to file a case and then they have to win this case.
I don't seem to remember any JSS thing... :)
You can open an account with any bank.
It's not ok to ignore them because you cannot really run away from them.
Just don't let fear influence any of your decisions with dealing with them and keep yourself well informed.
Relax,
AG
HI,
ReplyDeleteaus ang site na to ask ko lang kung wanted n nga tau sa bangko ung sa akin HSBC at CITIBANk and tinatawagan nila tau kasi hindi nga tau nakakbayad kailangan b natin sagutin pa ung calls ang informed them na hindi na tau capable na bayaran ung utang or wag n lang sagutin ung tawag at matic n un? kya lang lalaki prin ung bills evry month symepre pati ung min amount due?
Kailangan ko bng entertainin ung calls or ignore it.. pero ang totoo talaga hindi ko sya kyang bayaran sa dami ng gastos ko ngaun.
pano ko maaasure ung sarili ko na wla sila magagawa sa kin at pwede n ko matulog ng mahimbing..
kahit ba meron parin akong natatangap n letters from the bank and calls hayaan ko n lang b un? wla b dapat ako ipag alala?
anong dapat gawin?
salamat!!
Hi Anonymous,
ReplyDeleteIf I were you, I'd answer the call, so they can't say you intend to defraud.
Of course the bill would increase every month but they can't do that forever. That's where their amnesty offer comes in.
You can sleep well precisely because you don't have money. :) And because you're not trying to defraud.
You cannot go to jail just because you don't have money but you can definitely go to jail if you tried to defraud. (Like pay them with a check from an account which have no funds.)
Why be afraid of losing your shirt when all you have is a bowtie? Hehehe.
Answer their calls. The truth shall set you free. ;)
Sleep well...
AG
to all credit card holders!!! try to be fair enough answer all calls even if you know that those came from a collection agency, in the first place it is YOUR RESPONSIBILITY!!! you should not use any beyond your capacity and now running away from it? MAHIYA KAYO! its not about the money or cant afford situation its how you gonna deal with it as argus gable said in one of his reply "truth will set you free". para hindi masabihan ng kung anu anong insulto face it! matutong makiusap at wag mag angas na parang gusto mo pang amuhin ka bayaran mo lang ang UTANG MO! this site offer lots of knowledge but it should not be way of scape for those who really have the intention to defraud."USE THIS SITE TO GAIN IDEA HOW TO DEAL WITH SUCH AND NOT TO FIND WAYS HOW TO ESCAPE FROM IT" im not a collector or belong to a banks if thats what you guys think, i also have cards were i able to maintain. i just have a co-employee na NAGTATAGO SA UTANG NYA!!! as a result pati kami ka opisina nya nadadamay! now think of it who is more evil the caller or the "hidding person?" hope my comment will be posted. thanks!!!
ReplyDeletegreetings in peace po.. first of all salamat po sa mga comments and info dito po sa blog na kung saan ay nagiging well informed ang bawat isa lalo na dun sa mga tulad nateng hindi tumatalikod sa obligasyon.
ReplyDeletemagtatanong lang po sana and also seek for advice.bottom list na din aq ng isang walang pusong nilalang na maniningil.naging instant breadwinner po kc aq due to my father suffered from stroke pero so far ay nakakaraos naman. tumawag po aq sa CC company na may hawak before ng account ko to submit my letter of proposal.but then they told me na ala na sa kanila yung account kundi nandun sa walang pusong nilalang na maniningil.nalungkot aq bahagya pero based sa mga natutunan ko dito sa blog na ito ay malaki ang naitulong since willing naman tayo na isettle drop by drop ang debt.
ask ko lang po sana what is the best thing i shall do now since lumalabas ayaw na din makialam ng CC company (HSBuwiset) sa anumang nais ko isuggest.?
hoping for your replies mga kadaupang palad
To all,
ReplyDeleteThe intended audience for this blog series are not those who have the means to pay and simply don't want to pay. Keep in mind that what goes around, comes around. A time may come that you would need credit and not get it just because you were careless with it in the past.
AG
Icetears,
ReplyDeleteWhile waiting or negotiating for a good deal, deposit the amount you intend to pay into your personal account regularly. This way, when you've saved enough, you'll have a chance to settle with the best amnesty offer you can get.
Hope your dad is getting better.
AG
hello argus
ReplyDeletei just wanna ask
may new law daw ngayon na they call
SMALL CLAIMS CASES
na kung saan pwede na maka collect ang bank thru that procedure...
which only entails just 1 hearing and any decision cannot be appealed..
ano po ba itong small claims cases?
pwede po ba i-apply sa personal loan ko to para masingil nila ko?
sa ngayon kasi i dont have money to pay them
as of now jobless pa rin kasi ako..
please enlighten me regarding this small claims case...
thanks
-nicole
Hi Nicole,
ReplyDeleteIt's not a new law but actually a new venue (Small Claims Court) where ordinary folk (people like you and me) can take another person (a person who owes you money or goods) which involves amounts below P100,000.00 (which they call Small Claims Cases).
I don't think banks would use that as a recourse simply because, in that venue, lawyers are not allowed.
If your cousin owes you P10,000.00, and taking him to court would be more expensive, then the Small Claims Court would be the place to go. The only difference between this and taking him to your local baranggay would be, a judge would be handling the arbitration and not your baranggay officials.
If you already have somebody you want to take in mind, just remember, you can't bring your lawyer. You got to argue your case yourself. And if somebody takes you, you're the only defense you got.
AG
hello argus
ReplyDeletethanks for the reply
one more question...
If lawyer is not allowed there, how come this Molaer and Associates sent me a Formal Demand Letter saying that they gonna file a Small claims to collect money from me to pay my loan.
Pwede po bang gamitin yun (Small Claims Cases) ng Molaer & associates?
Actually di na yung bank ang nag send sakin ng letter...
yung Collection agency (Molaer & associates) na po ang nag send ng letter na ipa-file na raw nila sa Small Claims yung case ko.
thanks
-armi
Hi Armi,
ReplyDeleteIn a small claims court, nobody may be represented by a lawyer, unless the lawyer himself is the complainant or the defendant.
As far as I know, if Molaer wants to file the case in a small claims court, Molaer himself should appear and represent himself. (that would be the day.)
Now if let's say Molaer handles 100,000 bad debt cases and he files 10 cases a day and appears in all of them. He would be in court every day even on Sundays for the next 28 years.
Anyway, if he did try to do it, we'll surely hear about it.
In the meantime, let's just get on with our lives.
AG
Just to make some comments to the anonymous guy who wrote this ....
ReplyDelete"to all credit card holders!!! try to be fair enough answer all calls ....... in the first place it is YOUR RESPONSIBILITY!!! you should not use any beyond your capacity and now running away from it? MAHIYA KAYO! .... argus gable said in one of his reply "truth will set you free". ..... parang gusto mo pang amuhin ka bayaran mo lang ang UTANG MO! ......."USE THIS SITE TO GAIN IDEA HOW TO DEAL WITH SUCH AND NOT TO FIND WAYS HOW TO ESCAPE FROM IT" ..... i also have cards were i able to maintain. i just have a co-employee na NAGTATAGO SA UTANG NYA!!! as a result pati kami ka opisina nya nadadamay! ....?" hope my comment will be posted. thanks!!! .
===============================
Di ka nakatulong dre, nang insulto ka pa. Dadating din ang araw at di mo mababyaran kahit ang minimum due ng CC mo. Karamihan ng mga tumatakbo sa utang nila sa CC, eh dahil sa mga bastos at walang modo na pakikipag usap ng mga collecting agents. At ang isa pa, lumaki ang utang dahil sa mga hidden charges na ipinapatong ng mga bangko. Ang talagang may kasalanan dito, eh yung mga bangko at mga agente na nag promote at nagbigay ng credit cards. Ang mga CC holders eh nahulog lang sa paIn. Dre, may ka-opisina ka, di ba dapat siya ang tulongan mo at di yung mga callers na di mo naman kilala? Ang mga suggestions ni AG ay hindi para tumakbo at talikoran ang utang.
hi argus
ReplyDeletei got a letter from Molaer & Associates
ni-re-represent daw nila ang HSBC
may PERSONAL LOAN kasi ako sa hsbc amounting to 100K
nag ooffer sila ng special promo instead of 100k ang utang ko
i can only pay 45,265.02 and matatapos na obligation ko sa kanila.
kaya lang argus wala akong pambayad sa ngayun.
pareho kasi kaming jobless ng mister ko,.
sabi sa letter if i failed to grab that promo and settle my loan
they will file Civil case against me and my sposue
under the rule of SMALL CLAIMS CASES...
and they can also file crimincal case for violation of RA 8484
(1) argus ano po ba ang procedure pag nag file sila sa small claims cases
ipapatawag ba ko ng korte thru subpoena?
o bibiglain nila ako ng warrant of arrest
makukulong ba ako then i have to depend my self with my own lawyer?
(2) ano ba rules pag nag file ba sila ng crimincal case
tatanggapin ba agad ng court yun without preliminary investigation?
pagka file ba nila ng crimincal case
pwede na agad nila ako ipa-aresto?
(3) pano ko malalaman kung may naka file ng complaint sakin sa court?
please help me clear this matter on my mind...
naguguluhan na talaga ko
thanks
ms. afraid
Hi Ms. Afraid,
ReplyDelete(1) Yes, the court will inform you to appear on a specified date/time.
Small Claims courts do not issue arrest warrants. Therefore you will not end up in jail.
You can defend yourself but not with your own lawyer because no lawyers are allowed in Small Claims cases.
(2) This can only happen if the court sees the urgency and seriousness of the case at hand. But in your case which is below 100k, a Small Claims court would be more appropriate.
(3) If there was a complaint filed, you'd be holding a copy of it right now.
AG
hi
ReplyDeletegood day argus
i have a personal loan with hsbc
amounting to 75K.
may tumatawag sakin na
collection agency and they keep on
threatening me na ihahabla daw nila ko
i just wanna ask...
nakapag sign kasi ako sa collectiong agency na i will pay
my loan on or b4 dec. 15
(i know i shouldnt do that)
pero natakot kasi ako sa mga threats nila
ngayun ko lang kasi nabasa tong blogs mo
sayang, mas na inform sana ko
kung nakita ko agad tong blogs mo
pwede na ba nila kong idemanda
if di ko ma meet yung date na na sign ko?
ano yung consequences ng pag sign ko sa knila?
please help me clear this matter
thanks
ngayun ko lang nakita tong website mo
Hi Anonymous,
ReplyDeleteYes, they can file a case against you using the document you signed.
Consequences? They can take you to court.
But since your loan is less than P100k, maybe they'll take you to a Small Claims court as they usually mention.
See my reply to Armi, Sep.21,2009 in this article about Small Claims cases.
AG
thank you Sir Argus, i've just read this blogs, my question is can the collecting agency can actully sieze up all my personal properties in behalf of my unpaid loan at standard charterd that is growing higher,they had demanded me the amount of 23k w/c i can't pay as of now... pls inlightened my mind
ReplyDeletemy total loan amount is 75k, now its down to 23k, but during the crises, the company ive work on is in a slow down scheme for almost 5mos. and i was not able to continue paying my monthly dues, now i was been harrass by molaer law firm, that they will take my personal belongings whithin this week after i recieve the text message, pls tell me what to do, can they realy do that, comfiscates my owned personal properties? thanks in advance sir argus, god bless person like you, who is unselfishly render his knowledge and advise to people like me who is in deep debt. coz i have 3 CC and 3 personal loans on the banks, all of them are harrassing me, pls kindly advise me of what to do.
ReplyDeleteHi saonmanioi66,
ReplyDeleteNo, they cannot confiscate your properties.
Happy Holidays!
AG
hello argus
ReplyDeletei signed a written agreement with Molaer & Associates last december 2009. I promise to pay the amount of 45K (discounted price-original loan was 105K) on December 15. i paid only 20K. the remaining balance of 25K still unpaid up to now.
nag text na sakin ang molaer. ito po ang sabi:
"Wat happened to your payment? We are trying to help you to pay your debt with citifinancial. Alalahanin mo may pinirmahan ka saming documents. We will pursue your case and make a formal petition for the immediate released of your warrant."
Argus... possible ba yung sinasabi nila? natatakot po kasi ako dahil may pinirmahan akong papeles sa kanila eh.
please give me advice on what to do.
thanks
Hi,
ReplyDeleteIf you have money, pay.
Can they get a warrant? Naaah.
AG
argus
ReplyDeletemay question lang po ako..
tumawag ulit yung Molaer and associates...
itutuloy na daw nila yung case against me
binigyan po nila ako ng Case number ang number 09-537
under MTC branch 1 Manila
kay Fiscal Ryan Lim
pano ko po ma-ve-verify kung totoo to?
nakipag usap po kasi ako sa kanila
yung 25K kong balance ginawa nilang 40K
kailangan ko daw bayaran until friday
if not ipapa issue na nila ko ng warrant.
ano po ba gagawin ko?
-please advise
me again argus
ReplyDeleteanother question in mind:
sabi sakin ng molaer, they filed ESTAFA case against me kaya pwede na silang mag pa issue ng warrant
(1) ganun ba talaga yun? di na ba ko makaka received ng complaint letter or any letter informing me na may case ako?
(2) pag ESTAFA ba, pwede ako ipa warrant w/o informing me na may nag complaint sakin?
Hi,
ReplyDeleteYou still need to receive a copy of the filed complaint for you to say that what they're telling you is true.
AG.
Hi AG
ReplyDeletegood day po!laking pasalamat ko kasi nakita ko itong site mo at laking tulong sa mga taong may problema sa CC na tulad ko.ang problema ko po more than 1 year na po na hindi ko nabayaran ang 4CC ko kasi nga po wala akong pambayad pero ngayon po medyo nakakaraos na ng konti plano ko sanang bayaran ng paunti2x pero takot ako na pagtumawag ako sa kanila idemand na nila bayaran lahat yun ang hindi ko na po kaya kasi nga po bago umalis hindi ko na mabilang kung ilang beses nila akong tinakot.sila po ang reason nagpursige akong umalis para mabayaran ko sila.tulungan nyo po ako anong dapat kung gawin worry po ako kasi alam ko super laki na ng interest noon.maraming salamat po inadvance and GOD BLESS PO!
troubled lady
Hi Troubled Lady,
ReplyDeleteSorry for the late reply..
Just wait for them to contact you.
Don't worry, everything will work out right.
Meanwhile, just save the cash you're planning to use for payment.
AG
Hi!! I was wondering if you know what to do with my family's problem... my mom passed away of cancer last year. she left several cards with debts amounting to 200K for some. We weren't left of any more money than to get us by for the next dew months until we can stablize our income. My dad is still living and he is a retired government employee receiving a small pension from GSIS. How do we handle her debts? Are we obligated to sell our house ( named after her and my dad) to pay the debt off? Also, 2 months before she died she was approved of a personal loan from standard chartered and when the time to pay the monthly payments came she already passed away? now their claiming that she intentionally planned to this? like she planned to die? I wrote to the banks and sent them her death certificate but some like AIG and BDO keep sending us bills and threats with intrest rates still appearing due to non-payment. Can you pls advise me what to do? Im only 23 years old... I have never owned a credit card and has no idea how to deal with this. Thanks
ReplyDeleteHi Anonymous,
ReplyDeleteAm sorry to hear of your loss.
Credit card debt is a type of unsecured loan. Meaning no-collateral was required when credit was issued.
You are not responsible for paying the debt off and never will be. Don't let any creditor of your mom convince you otherwise. Unless you co-signed any of those loans.
Your dad may be responsible if the Card's or the personal loan's Terms and Conditions specifically state that liability is automatically assumed by the spouse upon death of the Cardholder.
But again, these types of credit are unsecured, so they usually are the last priority when settling claims to a deceased person's estate. That is the creditor's risk and they don't have any choice but to absorb the loss.
23? You have your whole life ahead of you. Make your mama proud.
AG
Please I need your advise re: my citibank credit card debt. Before po ako nasama sa retrenchment sa office last 2007, I was a good payer. But after po, I can no longer afford to pay the minimum amount due monthly. Good thing po our office was kind enough to hire me as one of their contracted workers (with a minimum salary). So I started to pay only P500 or any amount I could afford every month para po to avoid na masabihan ako delinquent payer. But last 2009, I started to receive notices/demand letters from CITIbank collection dept. to pay the full amount of P55,000+ (which includes daw the interest & other charges). If I failed to pay them daw my case will be dealt with accordingly...meaning siguro they will sue me. Sa takot ko I went to CITIbank office to negotiate but they told me to call their customer service to which they referred me naman to call a collecting agency/law office(?). When I called the law office, they were kind(?) enough to give me a promo. I will just have to pay only P25,000 within 15 days and my case will be cleared. Since I don't have the means to produce that big amount, I negotiated if I could pay only P20,000.00 within a month to which the collector agreed as long as I pay citibank P10,000 within the day as partial payment. Thankfully that time I have a savings of that amount. So I complied. But then when I'm about to pay my last payment, the collector told me that the amount of P20,000 we agreed upon was not approved by the bank. That I need to pay the total of P25,000. Again, I agreed to pay the said amount as long as I receive from them an agreement or letter stating that if I pay the full amount of P25,000 I will receive a certificate from the bank that my account has been settled. They gave their promise so I paid the bank P7,500 and I told them the remaining balance will be settled as soon as I receive the letter or agreement. But until now I have not receive any letter from them. Then just yesterday I was surprised to receive a call from a different law office telling me that I have to pay the P55,000+. I explained to them the transactions I made with the collector I first talked to. The answer they gave me was that the payments I made were already forfeited and will no longer count. They demanded that I pay again another P20,000 within three weeks or else they will file a case against me. Will that be possible? Is it true that the payments I made can no longer be counted? Ayaw naman nilang hulughulugan ko for two months..Please help me...what will I say to them in case they call again? What will I do?...my contract will end this September and I will be unemployed na.
ReplyDeleteHi Ms. Don't Know,
ReplyDeleteYou are running around like a scared rabbit.
Relax.
Keep your proofs of payment and they do count regardless of whatever lie they tell you.
If they call again, calmly tell them that you already paid. After that, limit your answers to, ahmmm..., ah...... mhmmmm... and other vowels you like.
You will be provoked. RELAX.
They can file a case, but they will NOT for such a measly amount as your balance.
Finding a more stable job should be what you are focusing on.
We all get those calls, so don't get the feeling they're singling you out. But you're becoming their favorite because you keep shelling out money.
Buying a nice new outfit to wear for job interviews would be a better way to spend your money.
Besides, why continue to pay if they keep telling you it doesn't count?
Cheers!!!
AG
Hi, pls enlighten me. I received a call from a certain Fiscal Ryan Lim of the Manila Prosecutors Office daw. My ipafile daw na case skin ang law office ng citifinancial. Pwede ko padaw maiwithraw ang case pag nakipagcoordinate ako sa law office binigay ang number. Di ako tumawag for I knew it was a total hoax. The next day, wala ako sa bahay, may dumating daw na pulis. binigay nila number nung fiscal ryan lim kuno.
ReplyDeleteI had my own validation only to get surprised that the Fiscal does not exist and is never connected with the Manila Prosecutors Office and that the number he is using 3773922 is not located in Manila but Makati.
My question is, tama ba ung ginawa ng mga pulis na pumunta sa bahay para lang sabihin na tawagan ko ung ryan lim? wala ata due process dun. they just wanted to degrade and embarass me. I had this feeling na nabribe lang ang pulis ng law office o may kakilala. How shall I treat this concern? pls help
Thanks.
Hi Anonymous,
ReplyDeleteNope, the police or any public official for that matter, have no business collecting debts or doing work for debt collectors.
If they were really police officers (in uniform/in a police car), you can get their names or anything that you can identify them with (police car number) and report them to their precinct.
If you don't want the hassle of doing so, just be cool and talk to them as they are not there to arrest you or anything. You or your neighbors can even take it as an opportunity to report crime or peace and order issues in your area which should be what they need to be busy with in the first place.
What the collector is trying to do is to force you to initiate contact and call them back - which you don't have to do.
AG
Hi, thanks for your response. Yes, they were using a police car. But unfortunately, my in-laws didn't get the plate number and the names of police officers, yet several people witnessed that they indeed arrived. I was not there but they did not come to arrest me but just to send an informal complaint from a certain law office na di naman pinareceive, instead pinilasan ang papel at nilagay ang kontak number ng fiscal kuno. I am not bothered for I knew mga kalokohan ginagawa nila. Lucky it was me who is still young, panu kung may sakit sa puso, they could have triggered heart attack, do you agree?
ReplyDeleteAlso, alam kong I can never be filed with a complaint becoz I am still paying monthly sa amount na kaya ko, say 500php just for them to see that my account is moving and I do not have the intention of running from my obligations, db? Nasan ang justice dun? Gusto lang nilang mang demoralize...tsk tsk tsk...
Anyway, I had this tip from a certain person that the proper authority to take actions on harassment by law offices is the Bangko Sentral ng Pilipinas.. If you encounter this kind of harassment, file a formal complaint with the BSP addressed to Ms. Belinda Caraan, the head of Financial Affairs Group. Madami daw ganitong cases pero ang problem wla daw nagcocomplain kaya di sila maka-act kaya tayong mga na-victimized could do this. Para madala naman sila....Okay???????
"Anyway, I had this tip from a certain person that the proper authority to take actions on harassment by law offices is the Bangko Sentral ng Pilipinas.. If you encounter this kind of harassment, file a formal complaint with the BSP addressed to Ms. Belinda Caraan, the head of Financial Affairs Group. Madami daw ganitong cases pero ang problem wla daw nagcocomplain kaya di sila maka-act kaya tayong mga na-victimized could do this. Para madala naman sila....Okay???????"
ReplyDeleteTo the anonymous person who posted this, many many thanks. To Mr Argus Gable, thank you for your informative blog, God bless you. Anyway, I do have a query with regards to my own predicament. As of now, like the majority who posted comments in your blog, I too have a credit card problem. The bank is calling me to settle my account; it is not yet the collector company. Now, I would like to write a proposal letter to BDO Mastercard so that I can tell them that I can only pay Php1500 and not the Php5000 monthly. At least I am still going to pay them. I would like to know where can I send my letter or email? would you be able to help me/us in this matter? I would appreciate your response. Thank you very very much.
Hi vcj2028,
ReplyDeleteSo sorry for the late reply. Just been to a place where internet access is sort of choppy. :)
With BDO credit cards, a good place where you can start communications with them would be to email them at callcenter@bdo.com.ph or to call their toll free customer service numbers 1-800-10-6318000 and 1-800-3-6318000 (Digitel) or if you're in Metro Manila; (+632) 631-8000. You can then ask them to assist you to where you can direct your concerns.
Hope this helps.
Thank you,
AG
Thank you very much for the inspiring message to help your readers knowledgeable how to handle this like of situation.
ReplyDeleteI read all the emails of this site at thankfull ako kasi nabasa ko at may mahihingan ako ng payo. Nagkarun po ako credit card way back year 2004 credit limit kopo ay 20k. Sa ngayon nagpadala po sa akin ng Letter ang Law office ng Domingo Molaer for giving the amnesty amount 25k but i dont have money kaya di kona nasagot ang letter nila. But i want it to pay as of now im lack of money but they stated to their first letter pag di daw po nagcomply magback to regular amount at i file daw nila ang case against me and may husband. Pwede ba nila gawin yun na isama pati ang aking asawa at file daw nila sa akin criminal and civil case against me and my spouse. And sa ngayon ang amount na demand nila sa akin ay nasa
800k na panu ko pa mababayaran yan eh sobrang laki naman. At yung binigay nilang amnesty wala rin talaga ako pera sa ngayon. Anu ba pede kong gawin para kahit dun sa amnesty maextend nila ang gagawin kung pagbabayad at pwede po ba yun sa December nalang ako magbabayad pag 13th month pay na kasi sa ngayon wala talaga akong pera. Anu po ba pwede kong gawin.Binibigyan nalang nila ako ng 3 days after i receieved the 2nd letter na no extendeble of 3days. Please Help me how to settle.I wait your reply thank you very much.
Hi aubrey afraid gurl,
ReplyDeleteAs I've said before, you can only worry about paying if you have money. if you don't have money, what you should be worried about is how to earn or save more.
In the meantime, since you and your husband are NOT going to jail, save up and wait for a better amnesty offer. One that you can really afford to pay.
Don't worry about the 3 days.
AG
I received a call just a couple of weeks ago from a bank saying I have an outstanding balance of 400+K with AIG and that they are offering an amnesty. The lawyer said that my last payment to AIG was 7 years ago. It seems AIG no longer exists and that AIG credit card has since been transferred or is now being handled by this bank.
ReplyDeleteI did not receive any billing all these years. We moved places several times but they were able to contact me thru my parents number.
Just so we can verify, I asked the bank for a detailed statement of account showing the breakdown of charges and interest. All they could give was a Statement of Account with one line and one lump sum figure for the current month of Sept 2010 amounting to 400+K. They said the documents are not available.
We have money troubles and I don't remember anymore if I had an outstanding cc balance with AIG or not!
I took all their calls in the last 2 weeks but told them I could not commit to pay. They said they will file legal proceedings for Violation of Article RA 8484 Article 315. Thanks to this forum, I now know from your advice that I should not sweat it out and just remain calm.
I definitely cannot afford to pay but pretending that I can... Should I pay even if I cannot check what they are charging me with and how the interest accrued over the years?? Can they charge me a sum without showing where it came from? If this goes to litigation, will this hold in court??
Thanks
HASSLED
Hi Hassled,
ReplyDeleteYou are correct.
They should be more worried about this than you.
If they don't have proof regarding exactly what you owe, then they can't say either whether you're already fully paid or not. So as far as you can tell or recall, you don't owe them anything. Charge it to bank error.
AG
Hi!
ReplyDeleteI have a present HSBC Cc which I'm having problems in settling the amoount since it's getting bigger and bigger. I'd like to ask if it's a good idea to default payment right now and have it settled in the future when my financial resources would allow me?
I observed that almost 95 percent of what I pay goes to the interest and only a very small portion of what I pay goes to the principal. Because of this, I fear that I will be indebted in my CC for the rest of my life.
I stop using my CC right now. I'm thinking of stop paying it. Will this be a good idea?
Hi Anonymous,
ReplyDelete'Stopped using' is a good idea.
Stop paying is like crossing a river with 10 people and you know there's a crocodile in it. Do at your own risk.
Some credit cards offer balance transfer promos where you get to pay significantly lower interest rates. Maybe you can better afford that.
Strategize towards getting rid of that debt fast. But make your move while you're still considered a good payer.
AG
hi argus,
ReplyDeletethe problem is that HSBC is the only credit card that i have right now and it's impossible for me avail of the balance transfer.
i already had my standard chartered bank defaulted a few years ago. will there be anyv difference in case i will default in paying my HSBC card?
Hi AG.,
ReplyDeleteI just like to ask pwede ka bang sabihan ng collector agent na Ipapa notice to the public ka nila sa philippine star. kapag di ka nag bayad..it seems kasi na di naman nababawasan ang utang ko..Can they do that? pwede ka bang makulong if ever you dont pay them, or is there certain amount limit for you to go to jail? Eh kung wala ka naman mapakain sa kids mo uunahin ko pa ba sila?
im not trying to get rid of them but..and Yung paniningil nila before it is just 20k now the law office is asking for 78k how can i pay for that..??
Hi,
ReplyDelete1. pwede ka bang sabihan ng collector agent na Ipapa notice to the public ka nila sa philippine star. kapag di ka nag bayad?
Answer: Credit card companies won't allow collection agencies acting in behalf of them to publish notices of delinquent credit card holders since this would be publicly bad for their card's image. Also, even if it became a practice, newspapers would end up being as thick as the white and yellow pages of the phone book.
2. pwede ka bang makulong if ever you dont pay them,
Answer: No.
3. is there certain amount limit for you to go to jail?
Answer: None.
4. Eh kung wala ka naman mapakain sa kids mo uunahin ko pa ba sila?
Answer: I won't.
5. Yung paniningil nila before it is just 20k now the law office is asking for 78k how can i pay for that..??
Answer: Don't. Get a good deal.
AG
AG
ReplyDeletegurl on debt
hi i have 3 credit cards one is in union bank and the 2 on eastwest bank what bothered me most is my eastwestbank with a credit limit of 90,000 and its baloon to 365 k. i was jobless before and i consume the credit limit for my sons milk and hospitalitazion.it was issued to me 2009 and collecting agencies kept on calling me and threatening me to arrest me because they file a case to me a criminal case and 3 counts of estafa? how come that my case is an estafa? i never issue a bouncing check... at first i communicate with them i try to pay 1k but now i cant coz my salary now fits only our daily needs. please help me...i can pay with installment but they demanding me to pay it in full. after the call i change my cp number because i was afraid of them threatening me to arrest me wihin 48 hrs.
thank you please help me...
would i go to jail for not paying my debt.?
is that true that i have an estafa case?
they also give me a Case number without receiving any letter informing me that i have a case..
good day, share ko lang... may nagpunta dito sa bahay na collector and may kasama pang barangay tanod there looking for my ate, nakakainis lang kasi sa kapit bahay pa talaga nagtatanong and then lumabas ako tpos sabi sa akin if kung dito pa nakatira yung sister ko. ang sabi ko OO and kung anu-ano na sinabi na kasama niya yung baragay at naka blotter na daw ang sister ko.. sa asar ko, inaway ko na din, hiningian ko ng mga i.d's ayaw magbigay. nakaka loko sila, ang hindi nila alam na barangay catain ang dad ko, kaya sila ang pina-hiya ko.. and then pinapunta ko yung mga tanod ng dad ko, at sila ang nireklamo ko at kinasuhan yun nagpapanggap na tanod. ayun... umamin na kinontrata lang pala siya collection agency na yun... nga pala nag iwan din pala ng number at ipina-abot sa kapit bahay namin, tawagan daw siya si FISCAL RYAN LIM na alam ko na bogus kse yung mga kaso hindi alam pauso ng kaso. R.A 315 daw? anu yun? eh sa mga farmers related yung case number na yun... tsk tsk tsk!!! kakaiba yun, wag ka lang mag papakita sa amin FISCAL RYAN LIM, masyado ka ng sikat.. INGAT INGAT ka lang...
ReplyDeleteHi Anonymous,
ReplyDeleteThat was great!
Wish we could have been there to see his face drop. That would have been priceless.
And to think that a fiscal or even a staff in his office now has the time to personally go around and look for credit card users.
If he's bogus, they would have both been liable for usurpation of authority.
Big Cheers!
AG