Utang

[lomex32]

Indeed, specially if it was a life-and-death situation...

 

if you determine that the borrower is genuinely in need

and you have the means or extra funds to help

do your share and help out (kahit utang kalimutan)

you'll feel good about it

[TMX_626]

Life indeed may be tough and sometimes we can be bountiful....

 

On such times....

 

Kanino ka umuutang?

1. Credit Cards

2. Bank

3. Parents

4. Siblings

 

Kanino ka rin nagpapautang?

1. Siblings

2. Officemates

 

 

i borrow from my parents.

pag wala na... i borrow from "lending institutions" (3% p.a.) payable with post dated cheques.

Siblings.... pag pang -gas or pampa-carwash... pag walang mabunot sa bulsa.

Sa cooperative namin... 100K.

So far, as long as you keep your debt profile good and liquid.... walang problema jan. But as soon as you start missing payment dates. ibang usapan na yan. u need to prioritize and re-assess your finances.

 

usually, nagpapautang ako sa janitors namin. other than them, wala na. Hindi ako nagpapautang sa alam ko na hindi nagbabayad, kahit na kamag-anak namin. Ayoko na pagsisimulan iyon ng hindi magandang pakikitungo namin sa isat isa. Hayaan ko sya na maasar or magalit dahil hindi ko sya pinautang. At least, hindi ako ang maasar dahil hindi ako makasingil sa kanya. :mtc:

[lomex32]

Thats good.

 

Debt profile is a factor when someone looks at your credit standing.

Banks have ways on looking at your debt profile.

They look at for any legal cases that resulted from your bad loans.

 

Missing payments like it or not, reflects our character ...

Kasi kung pinautang ka sa oras na kinailangan mo, bakit di ka naman magbabayad sa oras na takda ...

 

 

 

i borrow from my parents.

pag wala na... i borrow from "lending institutions" (3% p.a.) payable with post dated cheques.

Siblings.... pag pang -gas or pampa-carwash... pag walang mabunot sa bulsa.

Sa cooperative namin... 100K.

So far, as long as you keep your debt profile good and liquid.... walang problema jan. But as soon as you start missing payment dates. ibang usapan na yan. u need to prioritize and re-assess your finances.

 

usually, nagpapautang ako sa janitors namin. other than them, wala na. Hindi ako nagpapautang sa alam ko na hindi nagbabayad, kahit na kamag-anak namin. Ayoko na pagsisimulan iyon ng hindi magandang pakikitungo namin sa isat isa. Hayaan ko sya na maasar or magalit dahil hindi ko sya pinautang. At least, hindi ako ang maasar dahil hindi ako makasingil sa kanya. :mtc:

[BnF95]

Thats good.

 

Debt profile is a factor when someone looks at your credit standing.

Banks have ways on looking at your debt profile.

They look at for any legal cases that resulted from your bad loans.

 

Missing payments like it or not, reflects our character ...

Kasi kung pinautang ka sa oras na kinailangan mo, bakit di ka naman magbabayad sa oras na takda ...

 

What's insane is how the banks "fix" their loans. I've a friend who borrowed 60M from a bank, as collateral, she put up her property worth (at that time) 65M (bank assessed "loanable" value). Over the course of 12 years, she paid some 140M, but due to complex restructuring by the bank, she ended up losing the property as well. :thumbsdownsmiley:

[the messiah]

What's insane is how the banks "fix" their loans. I've a friend who borrowed 60M from a bank, as collateral, she put up her property worth (at that time) 65M (bank assessed "loanable" value). Over the course of 12 years, she paid some 140M, but due to complex restructuring by the bank, she ended up losing the property as well. :thumbsdownsmiley:

 

banks hehehe, you think they are there to help you?? hell no at the end of the day pera pera lang rin yan, they serve the interest of the stockholders

[lomex32]

BANKS will offer you all types of umbrellas on a sunny day BUT

BANKS will not give you one on a rainy day

 

What's insane is how the banks "fix" their loans. I've a friend who borrowed 60M from a bank, as collateral, she put up her property worth (at that time) 65M (bank assessed "loanable" value). Over the course of 12 years, she paid some 140M, but due to complex restructuring by the bank, she ended up losing the property as well. :thumbsdownsmiley:

 

banks hehehe, you think they are there to help you?? hell no at the end of the day pera pera lang rin yan, they serve the interest of the stockholders

[BnF95]

BANKS will offer you all types of umbrellas on a sunny day BUT BANKS will not give you one on a rainy day

That is so true lomex32, that is so true.

[andrewfordmedina]

Congratulations Lomex, on having your thread returned to its original location.....

 

Aldrich, speaking of credit card collections, I've had the baddest experience with Citibank before.

 

A collector called me up in the office, spoke to my officemate, revealed all the details of my past transaction history, including places, names of establishments and even charges that I made.....all intended to put me in a compromising and bad light in the eyes of my officemate.

 

Then, on another occassion, he brazenly introduced himself to me as an attorney and berated me for missing my due date (by just one day!).

 

Years later, when I worked in a CC, I became friends with some who used to work for Citibank collections.......and all of them said that was the style to intimidate clients and produce collections.......but they too got sick of it...... :sick:

 

 

That is why it pays to pay your loans on time......

 

Better yet.....a slogan during my younger years: "Mag Impok Sa Banko"

 

or as another said: "Live within your means"

[lomex32]

Hehehe

 

This issue about Intimidate to Collect was raised on the House of Representatives

... where in banks have no right to do so ....

 

Ung service charge sa Inter-Bank ATM transactions via BancNet, Megalink, PesoNet pwede pa

 

Pero in simple terms

 

Kung ikaw nga naman may utang hindi ba dapat lang na iyong bayaran ...... bow :hypocritesmiley:

 

 

Congratulations Lomex, on having your thread returned to its original location.....

 

Aldrich, speaking of credit card collections, I've had the baddest experience with Citibank before.

 

A collector called me up in the office, spoke to my officemate, revealed all the details of my past transaction history, including places, names of establishments and even charges that I made.....all intended to put me in a compromising and bad light in the eyes of my officemate.

 

Then, on another occassion, he brazenly introduced himself to me as an attorney and berated me for missing my due date (by just one day!).

 

Years later, when I worked in a CC, I became friends with some who used to work for Citibank collections.......and all of them said that was the style to intimidate clients and produce collections.......but they too got sick of it...... :sick:

That is why it pays to pay your loans on time......

 

Better yet.....a slogan during my younger years: "Mag Impok Sa Banko"

 

or as another said: "Live within your means"

[dreamshocker]

i make it on a point not to borrow money from anyone unless it is really necessary. if so i make sure na mababayaran ko agad. pero for utang good suggestion is through credits cards and through personal loans sa bank like citi financial.

[lomex32]

Ang laki din ng iterest

 

3% plus other charges

 

i make it on a point not to borrow money from anyone unless it is really necessary. if so i make sure na mababayaran ko agad. pero for utang good suggestion is through credits cards and through personal loans sa bank like citi financial.

[Guest xHANGMANx]

never ever rely on your credit cards

 

better apply for a personal loan

 

much lower interest

[Touching_drip]

I'm a real sucker for Credit cards, kaya lubog parin sa utang.

[the messiah]

Congratulations Lomex, on having your thread returned to its original location.....

 

Aldrich, speaking of credit card collections, I've had the baddest experience with Citibank before.

 

A collector called me up in the office, spoke to my officemate, revealed all the details of my past transaction history, including places, names of establishments and even charges that I made.....all intended to put me in a compromising and bad light in the eyes of my officemate.

 

Then, on another occassion, he brazenly introduced himself to me as an attorney and berated me for missing my due date (by just one day!).

 

Years later, when I worked in a CC, I became friends with some who used to work for Citibank collections.......and all of them said that was the style to intimidate clients and produce collections.......but they too got sick of it...... :sick:

That is why it pays to pay your loans on time......

 

Better yet.....a slogan during my younger years: "Mag Impok Sa Banko"

 

or as another said: "Live within your means"

 

 

Tough luck dud, Citibank collectors are rili rude, they are allowed to curse at clients wit past due accounts, sa HSBC mas professional ng konti hehe

[TheGeneral]

i'm not encouraging it but always keep in mind...

 

that in Philippine Laws you can not be jailed for non-payment of credit cards or bank loans. you'll just be burdened with additional interests, demand letters, and as most of you mentioned, be bothered by rude collectors.

 

banks have no way to prosecute you. they'll just try to get as much as they can from you by hiring bully collection agencies, or better yet, offer you with reasonable rates, or the best thing is to be offered amnesty packages.

 

but at the end of the day, the bank will have no choice but to put your account as bad debts and WILL BE WRITTEN-OFF (as their expense) in due time. it's part of the risk that they take whenever they lend you money. it's an almost inevitable expense which is absorbed by the bank as calculated by their risk management team.

 

you won't, can not, and will never be arrested and put in jail because of unpaid credit card bills.

 

but bounced cheque/s is an entirely different story. YOU'LL GO TO JAIL.