Comments on: Drowning in credit card debt?

By: tinmuning

tinmuning — Wed, 09 Dec 2009 23:33:43 +0000

I came across this blog which can serve as “credit card debt for dummies.” For me, it was able to answer what would happen if the credit card owner dies—should the family shoulder his debts? Warning though, the article is in taglish so I guess the author did that for most Pinoys to understand. In case anyone’s interested, here’s the link: http://panyero.wordpress.com/2009/12/03/namatay-ang-credit-card-holder/

By: miko

miko — Thu, 14 May 2009 09:58:19 +0000

what if the consumer cannot pay due to unemployment.. can these collection
agencies confiscate personal belonings/properties?

By: the man

the man — Sat, 20 Dec 2008 06:55:01 +0000

she currently operates a steak restaurant along T. Morato under the name Steak Doctor. So for credit card collectors reading this comment, pls leave a message for me to forward to you her whereabouts. thanks and a happy debt free new year to all you good guys.

By: the man

the man — Sat, 20 Dec 2008 06:50:52 +0000

the wife of a friend of mine used her credit card to loan the maximum credit limit to the amount of 2 million pesos and does not plant to pay back the credit card companies. She now hides in a different address from the cards mailing address. this is certainly not right.

By: Cheap Living for the Proverbial Rainy Days

Cheap Living for the Proverbial Rainy Days — Sat, 20 Sep 2008 03:47:13 +0000

[...] savings account. Also, using your credit card could put you in a really really bad debt. Read this article about a woman who failed to pay her bills and now the bank is going after her with a 7% monthly [...]

By: Tito

Tito — Wed, 17 Sep 2008 09:00:41 +0000

We have a new law right now RA 8484 punishing a credit card holder who has no intention to pay his credit card debts and surreptitiously leaves his place of residence or work.

By: Van

Van — Mon, 15 Sep 2008 05:56:00 +0000

I agree with Emo, it is better to talk to credit card companies. Try to negotiate with them, and sometimes they are offering installment basis for your payment without penalty, but with a little interest.

By: Film Asia

Film Asia — Mon, 15 Sep 2008 03:00:57 +0000

I always buy things by cash rather than credit card. It’s pretty alarming more and more young adults are involved in credit card bankruptcy.

By: Emo

Emo — Fri, 12 Sep 2008 01:15:43 +0000

Don’t be intimidated by collection agencies that use scare tactics. They will not and cannot get to you unless you expressly permit them. Instead, try to deal directly with the card company via their complaints department and question why they are allowing such collection agencies to represent them in that manner.

Here is an important number to remember when dealing with unfair credit card companies and collection agencies.

Bangko Sentral ng Pilipinas, Consumer Affairs Group
524-7011

By: Aspiring Entrepreneur

Aspiring Entrepreneur — Fri, 12 Sep 2008 00:07:49 +0000

I had a similar post on credit cards with the link posted.

I just want to share that no one gets into jail by not paying credit cards since this is just a civil case. The case will be ‘Sum of Money’. In contrast, a case for example Batas Pambansa 22 (BP 22) or more commonly known as Bouncing Checks Law is a criminal case and this could get you into jail.

By: sunjun

sunjun — Thu, 11 Sep 2008 15:18:31 +0000

if only our retirement funds would compound like that as well …

By: kouji

kouji — Thu, 11 Sep 2008 06:43:43 +0000

drowning is the right word though. that’s a terrible amount of increase. perhaps some way could be found to restructure the loan.