what if: I will not pay my bills anymore?

[CVT]

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.

Talk about privacy these days....

It is still the interest of the corporate world lording over everyone/everything else....

18.2K:soccer2:

[vinj]

Wala naman nakukulong sa hindi pagbabayad ng CC.

That is true. It's really more of a question of one's honor and integrity on whether they will make effort to pay or not. Character ika nga. At the end of the day, one would rather deal with and be friends with a person who has no money but is transparent and puts out all effort to make good on his obligations rather than a person who has the money but doesn't want to pay up... Mahirap kuhanan ng bayad sa utang ang taong may pera pero ayaw magbayad.

[_Cathy_]

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

[_Cathy_]

That is true. It's really more of a question of one's honor and integrity on whether they will make effort to pay or not. Character ika nga. At the end of the day, one would rather deal with and be friends with a person who has no money but is transparent and puts out all effort to make good on his obligations rather than a person who has the money but doesn't want to pay up... Mahirap kuhanan ng bayad sa utang ang taong may pera pero ayaw magbayad.

Definitely. Just to clarify, I was not advising the TS to default on his card payments. I was just stating a fact.

There are so many horror stories about people who got in deep credit card debt. That's why I am very conscientious when it comes to charging my purchases. I will never purchase anything through cc if I cannot pay it in full by month end.

[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.

[d'flash]

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?

[_Cathy_]

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. AFAIK that can be arranged. Tell them to close your card as you don't have the capacity to pay for it anymore. Ask for a restructuring as mentioned in another post.

[1D4LV]

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.

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....

[vinj]

Definitely. Just to clarify, I was not advising the TS to default on his card payments. I was just stating a fact.

Yeah, that's true a lot of people don't know the consequences of snubbing their CC bills. That's why at times you can't blame the CC companies or collection agencies from being *ssholes when it comes to dealing with delinquents since they do not know you personally and may choose to assume the stance that the person they're dealing with are the habitual non-payees. That's why if you think you may have a problem in settling on time, it's better to try and talk to them to come up with an amortization rather than have them go after you when you're already marked as a past due account.

I will never purchase anything through cc if I cannot pay it in full by month end.

That's how a CC should be used. I also use my CC simply because it allows me to not carry too much cash for our daily expenditures and purchases. The rule of thumb is that if you're settling your full CC amount every due date then you're using it properly in line with your cash flow.

[Retz]

Kaya nga mag isip ng mabuti bago kumuha ng credit card. Mapabilis at dami ung gastos mo kasi swipe lang ng swipe pag dating ng bill eh, ligwak na.