Credit Standing

[bitoysworld123]

banks keep sending me credit cards that i didnt apply for. biglang may bagong credit cards nlng sa mail and i call the banks right away to cancel them since i didnt apply for them in the first place. would that look bad on my record?

 

palagay ko, and dapat siguro, di maging neagtive un sa record mo... banks sending you a pre-approved credit cards means na ganda credit status mo... ang ayaw ko lang sa kanila may isang bank na di ko na maalala ung name eh pinadalhan ako malinaw nilagay nila na "card will be considered active if you do not call within 3 days" basta parang ganun... kaya natural tumawag ako to cancel it, sa bangko rin ako nagtatrabaho kaya normal lang kung magcomplain ako about dun...

 

ingat din kayo lately kasi ang nangyayari baka may nagpapanggap ng ikaw ang nag-apply kahit di naman... tinawagan ako ng east west bank to get my itr and latest payslips, kasi un na lang daw pending sa card application ko, e never naman ako nag-apply... weird lang din kasi when i asked for the docs na sinubmit ko raw, di naman na nila ako ginulo pa... kaya ingat sa mga impostor na pwede sumira ng credit nyo...

[kadjo]

ala ba credit consolidator dito sa pilipinas? para lahat ng loan isa na lang bayad.

[Loosemy09]

One thing that sucks for me is my Wachovia card keeps lowering my limit as I pay it off. It is good that it keeps me from running it back up but it is bad because it keeps me looking as if my card is maxed out which hurts my credit score.

[sam fisher]

I would like to thank all of those who have posted their own experiences having credit card loans and how they have redeem themselves from this slump. It is indeed true that it is one of the most humiliating experiences one can go thru in life....to be sent all those legal letters from the collectors and your inability to pay what you owe the bank for whatever reason. It may be due to financial immaturity, a happy-go-lucky attitude or something else, but at the end of the day, you owe what you owe.

 

I myself am still in a credit card situation back there in Pinas. I had an HSBC card which just ballooned out of proportion as I relied on it heavily when I was having financial problems. A mere 20k debt about 3-4 years ago skyrocketed to i think near 100++k before I left there a year ago. A part of me wants to escape from this responsibility simply because it was really humiliating for me. That debt grew bigger as there were times when I would transition from one job to the other, focusing on what was essential then, the basic necessities of the family instead of the accumulated debt. Payment was simply very difficult if I decided to do it back then, hence I was powerless, helpless and just ashamed to even pick up the phone and call the bank to tell them the reason why I couldn't pay.

 

I seldom post here in MTC, but I have been a member for quite some time now and have been an avid observer from the sidelines. I came across this thread as I am about to have a vacation there in a couple of months time. On top of that, I do have plans to buy a house within a year or so, but with what I got myself into I think it will still take some time for that to happen.

 

As the previous poster asked, " Is there some sort of Hold Departure Order for these types of cases? especially when cases have already been filed in court by the collector?"

 

I have no plans of running away from that debt and I am planning to get in touch with the bank directly as soon as I get home so I can immediately repair that damage that I have done to my credit rating. I now have the capacity to pay that amount, though not in full, in significant installments.

 

For those of you who have HSBC cards, do you have contact numbers that I could get in touch with to arrange a settlement/agreement to pay my credit?

card balance?

 

Again, I thank everyone who shared their experiences and advice, this really motivated me to settle this once and for all. I have still several years of work ahead of me outside of Pinas, and one day I would want to have my own property back there, a car and just basically back home when I can fully assure myself that I am financially sound.

 

Mabuhay kayong lahat and maraming salamat!

[Dr_PepPeR]

I would like to thank all of those who have posted their own experiences having credit card loans and how they have redeem themselves from this slump. It is indeed true that it is one of the most humiliating experiences one can go thru in life....to be sent all those legal letters from the collectors and your inability to pay what you owe the bank for whatever reason. It may be due to financial immaturity, a happy-go-lucky attitude or something else, but at the end of the day, you owe what you owe.

 

I myself am still in a credit card situation back there in Pinas. I had an HSBC card which just ballooned out of proportion as I relied on it heavily when I was having financial problems. A mere 20k debt about 3-4 years ago skyrocketed to i think near 100++k before I left there a year ago. A part of me wants to escape from this responsibility simply because it was really humiliating for me. That debt grew bigger as there were times when I would transition from one job to the other, focusing on what was essential then, the basic necessities of the family instead of the accumulated debt. Payment was simply very difficult if I decided to do it back then, hence I was powerless, helpless and just ashamed to even pick up the phone and call the bank to tell them the reason why I couldn't pay.

 

I seldom post here in MTC, but I have been a member for quite some time now and have been an avid observer from the sidelines. I came across this thread as I am about to have a vacation there in a couple of months time. On top of that, I do have plans to buy a house within a year or so, but with what I got myself into I think it will still take some time for that to happen.

 

As the previous poster asked, " Is there some sort of Hold Departure Order for these types of cases? especially when cases have already been filed in court by the collector?"

 

I have no plans of running away from that debt and I am planning to get in touch with the bank directly as soon as I get home so I can immediately repair that damage that I have done to my credit rating. I now have the capacity to pay that amount, though not in full, in significant installments.

 

For those of you who have HSBC cards, do you have contact numbers that I could get in touch with to arrange a settlement/agreement to pay my credit?

card balance?

 

Again, I thank everyone who shared their experiences and advice, this really motivated me to settle this once and for all. I have still several years of work ahead of me outside of Pinas, and one day I would want to have my own property back there, a car and just basically back home when I can fully assure myself that I am financially sound.

 

Mabuhay kayong lahat and maraming salamat!

 

You can just call HSBC's credit card collections department and they will refer you to the third party collection agent who has been assigned to your card.

[sam fisher]

You can just call HSBC's credit card collections department and they will refer you to the third party collection agent who has been assigned to your card.

 

Thanks for the advice Doc, so it will still be done via the third party collector and not the bank? As per my previous question, and the other person before me, is there a hold departure order for such instances (having court summons and stuff)? I wouldnt want to jeopardize my payments and not be able to go back to where I am currently earning my living if I was to be prevented to leave.

[Dr_PepPeR]

Thanks for the advice Doc, so it will still be done via the third party collector and not the bank? As per my previous question, and the other person before me, is there a hold departure order for such instances (having court summons and stuff)? I wouldnt want to jeopardize my payments and not be able to go back to where I am currently earning my living if I was to be prevented to leave.

 

Banks subcontract a lot of things since this is more cost efficient, so once a credit card account goes sour, it is automatically passed off to a collection agency who gets a certain percentage of any successful collection.

 

For a hold departure order to be issued by the Bureau of Immigration, a criminal case must first be filed. Non-payment of debt is not a criminal offense, unless there is an element of fraud, in which case it becomes estafa. Once a criminal complaint is filed, the fiscal will make a preliminary investigation, which means he/she will study the complaint and any evidence submitted by the complainant and the counter affidavit of the other party to determine if the filing of a criminal case is warranted. If the fiscal determines that a criminal case should be filed, then and only then can a watchlist order (a hold departure order comes later) be issued by the Bureau of Immigration. If you have not been charged criminally, then you cannot be prevented from leaving the country.

[sam fisher]

Banks subcontract a lot of things since this is more cost efficient, so once a credit card account goes sour, it is automatically passed off to a collection agency who gets a certain percentage of any successful collection.

 

For a hold departure order to be issued by the Bureau of Immigration, a criminal case must first be filed. Non-payment of debt is not a criminal offense, unless there is an element of fraud, in which case it becomes estafa. Once a criminal complaint is filed, the fiscal will make a preliminary investigation, which means he/she will study the complaint and any evidence submitted by the complainant and the counter affidavit of the other party to determine if the filing of a criminal case is warranted. If the fiscal determines that a criminal case should be filed, then and only then can a watchlist order (a hold departure order comes later) be issued by the Bureau of Immigration. If you have not been charged criminally, then you cannot be prevented from leaving the country.

 

Thank you for your advice doc, just one last question and forgive me for being stubborn. When is an action considered fraudulent? I tried to research the definition of estafa & my nose just bled with all the legal goobledegook about Estafa, The Bouncing Check Law & Jurisprudence. I do understand most, if not some of it, but I could not see the part where they define what actions are fraudulent.

 

In my case, I didnt reply to the collection agency with their court summons, nor was I able to contact the bank when I stopped paying. I did receive several letters from the collection agency, but I dont recall if there was a mention of it being filed as an estafa case. I will still settle all of my debts once I return there, I'm just making sure that I don't get myself into deeper crap than what I have already found myself into.

[sam fisher]

BTW homealoneguy, I have to give credit to you for posting such a lengthy story. This motivated me to face what I have been trying to escape from for these past years. Cheers to you man!

[Dr_PepPeR]

Thank you for your advice doc, just one last question and forgive me for being stubborn. When is an action considered fraudulent? I tried to research the definition of estafa & my nose just bled with all the legal goobledegook about Estafa, The Bouncing Check Law & Jurisprudence. I do understand most, if not some of it, but I could not see the part where they define what actions are fraudulent.

 

In my case, I didnt reply to the collection agency with their court summons, nor was I able to contact the bank when I stopped paying. I did receive several letters from the collection agency, but I dont recall if there was a mention of it being filed as an estafa case. I will still settle all of my debts once I return there, I'm just making sure that I don't get myself into deeper crap than what I have already found myself into.

 

Some collection agencies have resorted to filing estafa cases wherein they allege that the client transferred residence or office address without informing the bank with the intention of defrauding them. These are isolated cases however since filing an estafa case involves paying the filing fees. With the creation of small claim courts, it is much easier for them to file an ordinary collection case. I wouldn't worry too much about an estafa case.

[sam fisher]

Some collection agencies have resorted to filing estafa cases wherein they allege that the client transferred residence or office address without informing the bank with the intention of defrauding them. These are isolated cases however since filing an estafa case involves paying the filing fees. With the creation of small claim courts, it is much easier for them to file an ordinary collection case. I wouldn't worry too much about an estafa case.

 

Thanks for all the advice doc, I think I have the courage now to face that skeleton in my closet...appreciate your feedback really!! Maraming Salamat!

[cool2nasty]

May mga re structuring programs at amnesty ang mga credit cards company, try to contact and haggle na lang sa kanila for the best offer.

[kadjo]

May mga re structuring programs at amnesty ang mga credit cards company, try to contact and haggle na lang sa kanila for the best offer.

 

i tried that but they always refer you to the collection agency assigned. i would really like to repair my credit standing. hope anyone can help me. thanks in advance.

[rooster69ph]

just a word of caution ... for those with a history of bad credit, CC companies normally would report the names of these inviduals to the CIBI for its negative listing. Unfortunately, most credit card companies fail to request the cancellation of the names of individials who have already settled. As such the next time you ask for credit and checkings are made, your name still will reflect on the said list.

 

For some banks if they are really interested to extend credit to you, the will seek your explanation and status report. But for most, the banks will probably just immediately set your name aside.

[Guest eljuego]

to credit card experts here (i dont know who else to talk to) ---

 

is it possible for a credit card co. to charge me up to a 100K, for a credit card they supposedly issued me, but i never actually got and used?

 

im still waiting for them to call me back, since they promised to check their records muna -- who issued it, who received it, etc.. They will clarify things with me next week.

 

how did i know i had an "account"? i applied for a car loan and the alleged account came up.

 

hope someone can help.

 

 

thanks.

I'm no expert but it's odd that a credit card company will charge you 100K for a credit card you never used unless you are a victim of identity theft. Perhaps you lost a government issued card or a company id which was found by someone then expertly replaced your picture. I may sound like a conspiracy theorist but it happens.