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HOW TO HANDLE CREDIT CARD COLLECTION AGENCIES:

 

PART1

 

1) If you've been receiving concerns about fears and threats from collectors if you don't pay, like :

 

- filing a case

- visits

- warrants

- amnesty with deadlines

- all sorts of LIES

 

Please dare their bluff.

 

Magic Word:

"according to my lawyer, sa court na lang natin pag-usapan ito, para legal lahat"

 

di ba mas ok pa ito?

stop arguing with them.

useless.

stick to this line.

and you will be amazed why ayaw nila.

 

2) As per BSP Cir. 702:

a) Prohibits banks and their affiliate credit card companies from issuing pre-approved cards on concerns that pre-approved cards sent either through the mail or delivered by courier have exposed the public to cases of fraud via unauthorized use of their cards.

 

B) Banks and credit card companies are required to notify cardholders in writing within seven days before any account is endorsed to a collection agency.

 

“The notification requirement, which should include the full name of the collection agency and its contact details, is expected to also give cardholders enough time to consider whether it will be advantageous for them to settle before their accounts are endorsed to collection agents,”

 

It added that that the new rules require credit card companies to ensure that collection agents disclose their true identity to cardholders in order to address mounting complaints regarding unfair collection practices by some collection agents.

 

c) Entertain the collection agency ONLY if they have an authority/endorsement per BSP Cir. 702.

 

Magic Word:

" Before we can talk, may I know the Endorsement Code of the bank?"

 

" Just ensure you have the bank authority as required by BSP Cir. 702;

otherwise pahuhuli kita for extortion"

 

3) It is very difficult for a bank to prove that you owe them money. The burden of proof is with bank and all documents have to be in the original! ORIGINAL! Now,for them to prove that you owe them money they have to produce all those original charge slips (the one that you have signed) and present it to you as evidence. That is your right. Now, just using common sense, do you think that the bank can produce all those charge slips and come up with the amount that they claim you owe them? Most unlikely. Highly improbable.

 

4) What you should do if you recieved a summon from court?

 

a) Do not file an answer and do not attend the hearing.

B) If you want to file an answer and attend the hearing, do not admit on anything but ask the bank if they have the ff: 1)original contract that you signed with the bank (not the terms of agreement but a contract; 2) original charge slips (the one you signed when you purchase something - if they cannnot produce those documents, they have no proof that you owe them.

 

If they cannot produce the original, secondary evidence is acceptable.

However, it must show proof that the original was destroyed or lost and must prove that "due diligence" was exerted.

 

c) Let us assume that there was a decision on the part of the court. It merely states you pay so much with a 12% interest every year until fully paid. But the court doesn't give a deadline until when you must fully pay it! And even if you don't pay (kc wala kang dinero), the court cannot force you to pay kung wala kang cuarta (coo-war-ta) or the court may attachment your properties to satisfy the amount claimed by the credit card issuer.

 

5) The BSP's Financial Consumer Affairs Group (FCAG) advises the public to report unscrupulous collection practices and other credit-card related concerns via telephone numbers (632) 7087087 or (632) 524-7011 local 2584, fax number (632) 5258930, or e-mail address consumeraffairs@bsp.gov.ph.

 

6) R.I.P. CREDIT CARD DEBT

 

A) Prescription Period :

 

Art. 1144. The following actions must be brought within ten years from the time the right of action accrues: (1) Upon a written contract

 

B) Starting Time :

 

Art. 1151. The time for the prescription of actions which have for their object the enforcement of obligations to pay principal with interest or annuity runs from the last payment of the annuity or of the interest.

 

 

C) Clock Reset

 

Art. 1155. The prescription of actions is interrupted when

a. they are filed before the court, or

b. when there is a written extrajudicial demand by the creditors

c. when there is any written acknowledgment of the debt by the debtor.

 

7) Can you go to jail or get sued for credit card debt?

 

A civil action for collection of sum of money may be filed by the credit card issuer for non-payment after the credit card debt becomes “due and demandable.” This is not punishable by imprisonment. However, there is a possibility of the “attachment of your properties” to satisfy the amount claimed by the credit card issuer.

 

It should be noted that a criminal case may be filed against the cardholder for committing prohibited acts under Republic Act No. 8484, otherwise known as the Access Devices Regulation Act of 1998. Such illegal acts include obtaining money or anything of value through the use of an access device, with intent to defraud or with intent to gain, and fleeing thereafter (as provided under Section 9 of the law).

 

There is presumption and prima facie evidence to have utilized the credit card with intent to defraud under Section 14 of R.A. No. 8484 if a cardholder abandons or secretly leaves the place of employment, business or residence stated in the cardholder’s application or credit card, without informing the credit card company of the place where he or she could actually be found or contacted—if at the time of such abandonment or “surreptitious leaving,” the outstanding and unpaid balance is past due for at least ninety (90) days and is more than P10,000.

 

8) Can people from collecting agencies go to your house? What can you do when they do this?

 

There is no law or regulation banning collecting agents to go to the house of the cardholder. Collection agents may resort to all reasonable and legally permissible means to collect from the cardholder the amount due under the credit card agreement, provided that in the exercise of their rights and performance of duties, they must observe GOOD FAITH and REASONABLE CONDUCT and REFRAIN FROM ENGAGING IN UNSCRUPULOUS and INTOWARD ACTS.

 

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ano yung worst case scenario pag di ka nakapagbayad ng deliquent credit card? will it affect the future status of your children?

 

there would be two worst case scenarios i can think off.

 

first is that the banks can sue you, and attach a personal property.... however, this can be true if the amount of debt is more than the amount of the defaulted amount. if the amount of the property is more than the amount of the default, then the bank can apply for a property lien and you cannot sell the property unless you pay off first, for them to remove the lien.

 

the second scenario is that you cannot get a bank loan until you provide for proper documentary evidences as payments.

 

it will not have any direct effect on your children, except that for example, you die and you leave the property to your children na may lien. they may have to pay it off first to remove the lien (as per my first example.)

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paano kung sa mga gusto ng magbayad pero ayaw dumaan sa mga collection agency?, as we all know....masisiba mga collection agencies ... what will be the most effective procedures for this?

 

Lets say you have 50k, but your outstanding debt is 100k.

Go directly to their head office and recoveries department. Ask for someone who can help you.

Tell him/her you have cash right now and you want to settle your debt and if it is possible for the recoveries officer to accept it on the note na hindi ka aalis and iissuhan ka ng certificate of full payment ngayon (kaliwaan mode).

Pag hindi pumayag alis.

 

Any wise recoveries officer will accept your offer. Cash na yan eh....

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Saang settlements department ka pupunta? sa Bank or sa creditcard na pinagka utangan mo? Or dun sa collecting agency?

 

Kala ko ba we all agreed na wala na magbabayad or mag settle sa utang! kasalanan nila yan eh papautang sila ng unsecured loans or credit card! yaan mo sila mag dusa! Hahaha :P

 

sa credit card company mismo.

 

 

 

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  • 9 months later...

Salamat in advance sa makapagpayo.

 

Sa balak pumasok ng small time lending business, na isasangla

ang ATM card, ano proteksyon ng nagpautang sakaling mag declare sa banko ang umutang at sabihin nawala and ATM CARD at mag request ng bago ?

Edited by danbrown
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Salamat in advance sa makapagpayo.

Sa balak pumasok ng small time lending business, na isasangla

ang ATM card, ano proteksyon ng nagpautang sakaling mag declare sa banko ang umutang at sabihin nawala and ATM CARD at mag request ng bago ?

 

Wala kang proteksyon pag ginawa nya yan..advice ko is humingi ka nalang ng collateral(jewellery or anything na may value) Wag ang mga atm atm cards.

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  • 2 weeks later...
  • 1 month later...

Actualy kung may utang , bayadan. huwag ng magmatigas pa na hindi babayadan.

 

If you are a businessman or planning to become a businessman one day, huwag mo sisirain ang credibility mo by not paying, if hindi mo bayadan ang card bilss mo yourname will be in a system that can be seen by all banks. kaya pag mag apply ka ng loan one day, deny ka.

 

Also it is not right to spend money that is not yours then di mo babayadan. I have no respect for people na ganito.

 

I have an auntie na gusto mag bakasyon pero uutangin sa akin ang pangbakasyon niya, wtf, papasarap ka gamit pera ng ibang tao.

 

mga tao na bumili ng magagarang damit tapos ayaw bayadan ang credit card. buwahahaha kayo

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ano yung worst case scenario pag di ka nakapagbayad ng deliquent credit card? will it affect the future status of your children?

 

 

worst case, halimbawa , bahay mo ang ang pinupuntahan nila , puede nila ito habulin kung malaki utang mo sa banko, puedeng maguhitan ang titulo mo so to speak.

 

and one day pag gusto mo mag negosyo , baka naka blak list na pangalan mo

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Hello Sir/Maam, ask ko po sana kung ano habol ko sa situation ko. meron kasing taong may utang sakin na almost 190,000 pesos. ngayon po wala na sya sa bahay na nire-rent nya na tinirahan nila ng more than 10yrs pati anak nya kasama nya. sabi sabi nasa probinsya na raw nagtago. unattended na mga cellphone number nya pati nga po facebook nila deactivated na rin. yung utang po nya inutang ko rin halos lahat yun. pwede ko po ba ito idemanda kaso di ko alam kung nasaan sya? thanks po.

Sir pwede civil action yan sir for demand/collection of money(alam na ng abogado yan)

 

Pero pwedeng criminal action of estafa if : nagissue cya ng checkeng walang laman (alam nya walang laman at intention nya na lokohin ka para lng makautang)

 

and/or

 

Under B.P.22(Bouncing Check) - if: 1)nag issue cya ng check 2) alam nyang walang laman o kulang ang laman 3) tumalbog ung check

 

Pinaka importante dyan sir malaman mo ung address ng umutang sayo, kse kahit mgfile ka ng kaso d yan uusad hanggat d cya nabbigyan ng copy ng complaint mo at mabigyan ng summons, d kse magkkaroon ng jurisdiction ung court to try the case kpag d na notify ung defendant/accused na mayroong kaso against him/her.

 

Kng Criminal Action yan sir kailangan pa rin ng kse na manotify ung accused dyan. tsaka kng nagtatago ung warrant of arrest d rin maseserve sa kanya kaya d rin matutuloy ung case

 

prepare mo na rin ung mga evidence na pwede mong magamit sa kaso e.g. promissory note, any document na inaacknowlege nya na may utang cya sayo, or note na ng bayad cya ng kahit 1 beses at may na tira png balance sa utang nya.

 

kng criminal action iffile mo dalhin mo na din ung evidence mo para maconvince ung fiscal na may legitimate case ka against dun sa tao

 

hope mkatulong sir. ( any lawyers dyan, you may correct me if mali ako, i humbly submit to your vast knowledge of the law) :}

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worst case, halimbawa , bahay mo ang ang pinupuntahan nila , puede nila ito habulin kung malaki utang mo sa banko, puedeng maguhitan ang titulo mo so to speak.

 

and one day pag gusto mo mag negosyo , baka naka blak list na pangalan mo

 

on the house, it depends. family home is exempt from execution, as per civil and family code.

and if the value of the property is bigger than the amount of debt, it can't be, dahil kailangan suklian ka nila on the excess amount. it would mean that the bank would spend more in getting a property which can be considered as an idle asset in the long run.... may costs pa like transfer of title costs, real estate taxes costs, maintenance and repair costs. worst thing a bank can do is to attach a lien on the property na hindi mo mabebenta until na clear mo yung lien sa kanila. but of course, the bank would have to file and win the civil case first, get a writ of execution first.

 

however, the bank can still acquire properties if:

a. nakasanla sa kanila yung property

b. collateral yung property on a loan

but still, they have to file the appropriate court case. di basta basta pwede kunin yun. for credit card and personal loan purposes, hindi pwede basta basta mangyari yan.

 

on business loans, yes correct. it can hold true.... but if you are in a corporation, mas madaling gawaan ng paraan dahil madaming options (collateraled purchase orders, corporate properties as collaterals, etc.)

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Excellent thread. Very good read for credit cards holders, and also for those without credit cards yet. Helps to be educated on this matter, para hindi ka nabubully ng mga collecting agencies.

If you do not have credit cards yet, better do not get at all, or get just one and manage it.

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  • 2 weeks later...

That's why I just stick to Debit Cards. Kung anong gusto ko i withdraw will totally depend nalang sa amount na nasa loob ng account ko kaya imposible magka utang ako sa bangko. :) Very informative din about sa credit card although mahirap pa din kasi the bank can afford to have an army of lawyers, what's 20-50k a lawyer kung ang hahabolin sa'yo 200k+interest+penalties+damages+atty fees pag nanalo sila diba? Simple math. Madalas naman pag may laban ka eh mapapasuko ka rin dahil puro pa reseched hanggang maubos na oras at pera mo sa mga hearing na yan na walang napuntahan din.

Edited by ej_qn
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Hi po Sa lahat Ng mga nandito. May isasangguni Lang po ako na issue na halos ikamatay Ko na po sa pgaalala at umaasang matutulungan nio po ako. Mayroon po akong letter na natanggap Sa Robinson's bank, Ito po ay past due loan account. Originally po ay 15k ung utang Ko pero kada nbabayaran Ko po ung klahati ay nkakapgrenew ako. Bago po ako mgresign Sa pinapasukan Ko tinanong Ko po kung mgkano pa ang balance around 7k o halos kalahati na Lang, kya inisip Ko po na at least maccover Ng back pay. Isang taon na po ang nkalipas to be exact at ntnggap Ko po ung letter. Kinakabahan po ako Kasi "inhouse collection" po iyon Ng mismong bank at ung utang 16k na nakakagulat, Sa letter din po Kasi nkalagay ung "lawsuit" kya halos ikamatay ko na po talaga. Ano po ba ang gagawin Ko? Gusto Ko po bayaran Kaso isang taon na din po akong work so wala po talaga akong mapiga. Hindi Ko na po tlga alam kung ano mangyahari. Nkpagbasa din po ako Ng mga blogs regarding Sa same treatment Ng CA - collection agencies, CC - credit card defaulters pero ung issue Sa "lawsuit" ay wala pang nabanggit. Please tulong po. Maraming salamat Sa gumawa Ng ganitong blog site.

.

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Hi po Sa lahat Ng mga nandito. May isasangguni Lang po ako na issue na halos ikamatay Ko na po sa pgaalala at umaasang matutulungan nio po ako. Mayroon po akong letter na natanggap Sa Robinson's bank, Ito po ay past due loan account. Originally po ay 15k ung utang Ko pero kada nbabayaran Ko po ung klahati ay nkakapgrenew ako. Bago po ako mgresign Sa pinapasukan Ko tinanong Ko po kung mgkano pa ang balance around 7k o halos kalahati na Lang, kya inisip Ko po na at least maccover Ng back pay. Isang taon na po ang nkalipas to be exact at ntnggap Ko po ung letter. Kinakabahan po ako Kasi "inhouse collection" po iyon Ng mismong bank at ung utang 16k na nakakagulat, Sa letter din po Kasi nkalagay ung "lawsuit" kya halos ikamatay ko na po talaga. Ano po ba ang gagawin Ko? Gusto Ko po bayaran Kaso isang taon na din po akong work so wala po talaga akong mapiga. Hindi Ko na po tlga alam kung ano mangyahari. Nkpagbasa din po ako Ng mga blogs regarding Sa same treatment Ng CA - collection agencies, CC - credit card defaulters pero ung issue Sa "lawsuit" ay wala pang nabanggit. Please tulong po. Maraming salamat Sa gumawa Ng ganitong blog site.

.

 

how can you be sure na talagang inhouse collector ng bank yan? maski mga collector ngayon na outsourced ginagaya ang letter head ng bank..... was the letter signed by an authorized bank officer?

 

if it is really signed and authentic, try to contact the bank and try to negotiate with them in paying in installments. if they agreed, document the agreement. keep all your payment slips as records.

 

lawsuit? it is only a civil case of sum of money.... hindi criminal case yan.... and if they do file a civil case against you, they will win dahil may pruweba sila... unless you contest everything in court.

 

note : a civil case does not limit you to travel abroad, nor it will show in your NBI clearance.... it is similar to an annulment case (which is civil also in nature).

but kung may pambayad ka, try to negotiate with the bank..... kung wala, wala.... kung makasuhan ka, they will just go after your properties and bank deposits which is not exempted under the civil code or the family code. kung wala kang property, di wala..

 

one more.... if you have the cash, let's say, around 15k, try to talk to them to see if they can still waive penalties and certain interests... baka pwede pa pababain yan..... but kung may cash ka ha? kung wala, balik sa installments, but you cannot negotiate to waive off the penalties and interests.... installment kasi eh.

Edited by Google
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