History of repossessed car

**cast_no_shadow** · July 7th, 2015 12:02 PM

Originally Posted by Bin Diesel

Ang prescription period daw para maningil ng utang e 10 years. So I assume dapat wala na yun dun after 10 years.

Forever na yun andun, so red flag na yun whenever na mag apply ka ng loan.

Call pa din ng bank if they will take it against your application.

**shadow** · July 7th, 2015 12:31 PM

Originally Posted by cast_no_shadow

Forever na yun andun, so red flag na yun whenever na mag apply ka ng loan.

Call pa din ng bank if they will take it against your application.

Parang unfair naman Kung forever na. I'm sure they have learned their lessons to be financially responsible, paano nga kung bata ka nag kanissue sa default, eh di wala na chance maka loan forever kahit na ok na finances mo let's say pag mga mid 40s ka na or 50s?

Juvenile mistakes will cost you your whole life?

Meron siguro prescription din yan blacklisted

**_Qwerty_** · July 7th, 2015 01:03 PM

afaik, dito sa atin hindi tinatanggal sa list..

**goosebumps** · July 7th, 2015 02:32 PM

kahit na hindi umabot sa civil case and you voluntarily surrendered the car, blacklisted pa din?

**1D4LV** · July 8th, 2015 11:02 AM

the process is that if you have an adverse credit history is:

a. to show proof that you have settled your debit... this is via certificate of full payment issued by the bank if you have paid your debt in full.

b. to show proof of continuous income during applications.

iba ang car loan, mas lenient ang mga bangko dyan... bakit? it is secured by the car..... pag sumablay ka ng bayad, hatak.... unlike credit cards na unsecured.... walang mababatak, unless you have properties that are not exempted in the civil code of the philippines.

**JJ All Day** · July 9th, 2015 06:04 PM

Originally Posted by 1D4LV

the process is that if you have an adverse credit history is:

a. to show proof that you have settled your debit... this is via certificate of full payment issued by the bank if you have paid your debt in full.

b. to show proof of continuous income during applications.

iba ang car loan, mas lenient ang mga bangko dyan... bakit? it is secured by the car..... pag sumablay ka ng bayad, hatak.... unlike credit cards na unsecured.... walang mababatak, unless you have properties that are not exempted in the civil code of the philippines.

If I may also add, it would be better if you would voluntarily declare that bad debt in advance by attaching a copy of certificate of full payment. Yung process ng approval sa bangko ay different levels yan. mas okay kung sa level palang ng credit evaluator eh pasado ka na, before pa iakyat sa kanyang approving officer.

Wag mo na antayin na kapag hiningan ka, tsaka mo pa lang ibibigay.