There are a number of good reasons in favor of having and using a credit card. Still, we all know the possible adverse results in the unchecked use of “plastics” or credit cards, such as this one:
THERE’S a credit-card horror story that’s become some sort of an urban legend: A television personality, after losing his job in a top network, resorts to using his plastic money. By the time he finds employment in the rival network, he has wracked up P58,000 in credit card bills. But he figures he’s not yet ready to pay in full, so he pays just the minimum amount due. Yet after five years, he is shocked to realize that his credit card debt had ballooned more than 10 times to P700,000.
Perhaps you’ve heard, or, most probably, experienced certain “innovative” strategies used by credit card companies and their collection agencies in “persuading” you to pay (they are, of course, entitled to payment). With the rising complaints against these strategies, the Bangko Sentral ng Pilipinas (BSP) issued a set of rules and regulations governing the credit card operations of banks and affiliate credit card companies.
As a rule, banks, subsidiary/affiliate credit card companies, collection agencies, counsels and other agents may resort to all reasonable and legally permissible means to collect amounts due them under the credit card agreement. However, in the exercise of their rights and performance of duties, they must observe good faith and reasonable conduct and refrain from engaging in unscrupulous or untoward acts. Without limiting the general application of the foregoing, the following are considered unfair collection practices
a) the use or threat of violence or other criminal means to harm the physical person, reputation, or property of any person.
b) the use of obscenities, insults, or profane language which amount to a criminal act or offense under applicable laws.
c) disclosure of the names of credit cardholders who allegedly refuse to pay debts, with certain exceptions.
d) threat to take any action that cannot legally be taken.
e) communicating or threat to communicate to any person credit information which is known to be false, including failure to communicate that a debt is being disputed.
f) any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a cardholder.
g) making contact at unreasonable/inconvenient times or hours which shall be defined as contact before 6:00 a.m. or after 10:00 p.m., unless the account is past due for more than sixty (60) days or the cardholder has given express permission or said times are the only reasonable or convenient opportunities for contact.
(Full text of BSP Circular 454, series of 2004. Related article and discussions at Atty-at-Work.)
Hi,
I have credit card also but sad to say ang last payment ko is feb.2016 pa.. then last week may pumunta mismo sa office na dalawang collectors under atty. flores firm daw. Worth 58k na daw utang ko, sabi ko may nakausap n ako sa bank regarding dun tapos may tinawagan sila secretary daw ni atty.flores and then binibigyan ako ng 3 days to pay daw then binigyan ako amnesty na sa 20k sabi niya penge na lang daw email ko and contact no. sinulat ko then pirma sa likod ng papel and receiving copy nga nung letter na dala nila agad busy rin sa office sabi ko sige subukan ko bayaran next week which is nov.28-29 wala ako binigay na specific date may possible pa na balikan nila ako. Boni ave., Mandaluyong lang sila yung office ko is along shaw. lng din.
Hi……mag2yrs n poh ako dto sa pinas ….may naiwanan poh akong utang sa prime gold sa hongkong ….nung isNg araw may natanggap akong sulat mula sa enzi corp..mkalipas ng 2yrs ngaun lng may natanggap ako na sulat????? 59k hk$ na daw utang ko…kylangan daw mgreport ako within 5 days….ano kya po gagawin ko???
Gud pm po. Credit cardholder po ako sa Eastwest Bank. Ginamit po kasi nila mama ko.credit card ko kaso hindi nila.nabayaran. nasa payment program po kamo 1600 every month. Nakakapagbayad naman po kami nung una kaso nagigipit po kami ngaun dahil kakapanganak ko lang po. Tawag po sila ng tawag sa office kahit nakiusap po ako na sa akin dumirekta. Tapos po kanina po tumawag po sila sa HR dept namin at sinabi nila na ipopost po ang pangalan ko sa daily tribune dahil may kaso po ako libel dahil ayaw ko daw po magbayad. Nakausap ko po si atty nelson roque at sinabihan po ako na tatanga tanga daw kasi ako dahil di ako magbayad ng utang.
Sinabi pa po nila na pati yung kumpanya ko po ay idadamay nila sa na ipost sa dyaryo dahil kinuna akong empleyado. Kaya ngayon po pati Hr namin ay mamomoblema na. Tama po ba yung ginawa nila?
Haaay! Ganyan ba talaga maningil ang eastwest. Now i know collecting company na galing eastwest ang nagte-threat sa akin ngayon. Never nila sinabing maniningil sila. First sabi may case ako estafa kaya i need to talk to their lawyer, next may case ako sa banko sentral. Tuloy di ko alam kung ung pending debt ko ba yu or scam. Kasi di naman sila maningil ng diretso..sad to say financially broke ako kaya i cant pay.
Good Day !
I just recieved a message from Aeon for unsettled contract din po. I missed to pay for 3 months due to important reasons. Sabi nila sa sakin e ipapa brgy daw nila ako. Totoo po ba ito or same process lang po with smart and globe?
Meron ba sa inyo na may experience sa chinatrust?
Hi po,
Tanong ko lang, hanggang saan po ba ang rights ng collecting agent?
Legal pa po ba yung pupuntahan ka sa work place mo at aabangan ka nila?
Tama po bang mag email lang sila sa ‘yo , mag text at tumawag sa CP? nagbabayad naman po sa account ko with PS Bank, minsan below minimum, tas they insist na dagdagan ko pa ang binayad ko
Hi All–
Is EON a Bank? As I understood the Legal Process the Bank/The entity the lend you the money needs to provide a notification that your debt is being passed on to a collection agency, right? I don’t understand why I am being contacted by someone from Collections. It was a terrifying experience. They are making me look like a crook and a scum! What legal actions can we take in this? It’s really harassing and the people I’ve talked to don’t even listen. It’s a nightmare! To think that they are profiting from the people who borrowed money from them. It made me stressed that I cannot sleep for 3 days.
hi ask ko lang po kung pwede po ba akong makulong sa personal loan ko sa east west bank… prinocess ko po kase yun in behalf of my sister na kailangan ng pera… pangako niya sa akin siya po ang magbabayad… naaprove po yung loan kaso hiningian ako nd 36 na post dated checks.. ang advice po kase sa akin d ako from makukulong kung hindi ako mag iisue ng pdcs kaso po nasa kanila n po kase yung cheke from the start.. any input po???
Sa Home Credit po ba pg ngtex lng cla about sa summon totoo npo b na my summon or need ko p po ba na hintayin ung mismong letter or nkaprint out?.
put**g ina nyo kasi mga hindi kayo marunong mag bayad ng mga utang nyo. mga paawa epek pa kayo dito kunwari magbabayad kayo pero halos lahat sa inyo mga nagtatago na sa mga utang nyo.
ask ko lang po, reference lng din aq . kareceive aq ng text na may summon within 48 hrs to contact lian valencia clerk of court from taguig tapos Camp bagong diwa ang hahatid ng court summons. ung friend q kumuha sa aeon pero 2 months na lang ang kulang.
isa lang naman talaga solution jan eh.. magbayad kayo tapos!.. kung nagbabayad naman kayo di naman kayo kukulitin nyan eh.. una sa lahat nakinabang kayo sa pera at nagpakasarap kayo sa credit card na yan.. kung di nyo kayang bayaran wag iavail.. karamihan kase sa mga client kakapal ng mukha.. wala ng konsensya gumamit ng credit card ayaw bayaran.. kung totoong wala kayong pera sabihin nyo ng maayos sa company.. kung lumipat kayo ng bahay or mali binigay nyong address o contact number fraud un.. dun pa lang masasabi na agad na wala kayong interes magbayad.. ung mga collection agents kase na mga yan magaling magtrace yan kaya hangga’t di nyo sinisettle account nyo di titigil ung mga collection agencies na tawagan kayo, guluhin, at paalalahanan ng obligation nyo para magbayad. tsaka may mga amnesty program jan mapapababa pa utang nyo.. at kung nagugulat kayo kung bakit mataas yan?.. aba, eh bakit di kayo nagbabayad?? diba?? kasalanan nyo na yun!!!
Same situation here. 2012 ko pa huling nagamit ang EW CR card ko. Matagal ko na syang ginupit dahil hindi na din naman mapakinabangan at close na ang account. Nag avail ako ng 2 restructured payment last year pero hindi ko natapos parehas bayaran ang new terms dahil sa ibang financial obligations ko. Ngayon panay panay na nman ang tawag sa akin dito sa opisina at personal pa pumupunta ang collecting agent. Bukod sa mga pinapadala nilang notices. Minsan natypempuhan ako ng isang matinik na ahente, grabe ang daming sinabing panghaharass na salita. Nakakpanira ng araw. Mapapmura ka tlga sa inis. Hindi ko nman tatakbuhan kaso hirap tlaga ako financially ngayon. Just sharing.
pag tinawagan kau sa opisina, sabihin nio resigned na ung tao. wag kau magbigay ng information, tapos hulugan nio nalangh kung kelan nio gusto, wag kau papa stress sa mga yan kc walang nakukulong jan.
Hello po dona po aku makatulog 4 days na may dumating kasi letter sakin galing kay atty. Luis serano ligitation file number AB2-2008-05/08/20017 FINAL DEMAND CIVIL AND CRIMINAL CASE ANG I FILE SAKIN DAHIL DI AKU MKABAYAD 2008 PAPO YONG UTANG KU PERO NKAPAGHULOG NAMAN AKU KASO LANG NAG CLOSE YONG COMPANY NG 2009 DINA PO AKU NAKAPAG HULOG.. WALA PO AKUNG WORK NAG TINDAHAN LANG AKU NG MALIIT AT ASAWA KU NAG TRICYKEL LANG.. 10 LANG PO ANG UTAMG KU 445KPLUS NA PO NGAYON. ANU PO BA GAGAWIN KO NAKAUSAP KO PO YONG COLLECTOR PINAKAUSAP SAKIN NUNG MESSENGER NG NAGDALA NG SULAT ANG SABI SAKIN BAYARAN KU DAW 95K NALANG 12MOS UN DAW ANG HINIHINGI NG UNION BANK.. SAN NAMAN PO AKU KUKUHA NG GANUN KALAKING HALAGA. KULANG PA PANG GASTOS NAMIN YONG KITA NAMIN TALAGA BANG MAKUKULONG AT MAKASUHAN AKU DI PO AKU TUMAWAG SA KANILA KASI NATATAKOT KASI NUNG KINAUSAP AKU NUNG COLECTOR MAKUKULONG DAW AKU PAG DI MAG BAYAD PUPUNTA DAW SILA SA HAUS KASAMA BRGY.. ANU PO GAGAWIN KO PARANG AWA NYO NA PAYUHAN NYO NAMAN AKU.