credit card debt. can they reposses car as recovery

[shadow]

If you can afford to settle it now then do it, if hinde then don't. Ano magagawa mo?

Kung punta sila ng court so be it. As I've said talo ka naman talaga dahil hinde ka nagbayad.


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[dr. d]

True, but for sure hindi naman papayag ung bank na 90k ung babayaran ko. Duda pa nga kung half nang 600k. So if you were in my shoes, will you call the bank to settle or ipapa abot mo sa small claims baka 90k and a little interest lang?

we will never know what they may agree to, if we do not talk to them.

talk to the bank, po. you may yet be able to get a so-called win-win deal from them.

you agreed to the loan on their terms.
you may not unilterally alter the conditions of the loan.
the most you can do, is to talk to them and say, "this is all i can afford", and pray that they will agree to a more do-able agreement.
banks do not like bad debts. a bad debt is lost revenue. they might agree to a deal that diminishes the revenue lost.

you may not be imprisoned for debt, but your creditor may ask the courts to confiscate your belongings and have them sold, to cover the monies owed.
there are articles that differentiate between plain debt, and estafa.
while debt is non-imprisonable, estafa is.
consult a knowledgeable person, who may then advise you on which you might be liable for.

from what i understand in small claims court,
the judge's decision is final and non-appealable.

[oj88]

If still possible, negotiate to restructure your debt. You will have better bargaining power if you show willingness to pay.

If this ends up in court, there's always that risk of being court-ordered to pay or your assets liquidated. Hard to bargain if the bank or CA have the law behind them.

[shadow]

It is better to settle it with the bank directly. Paalis mo lahat ng interest and penalties. Kung ayaw nila huwag mo na bayaran.

Magagalit nanaman si cathy. [emoji23]

Mag file na lang sila ng case. I think the judge will be fair, aalisin niya lahat ng overcharging ng bank.

Meron ako nabasa dati eh natalo sa ganyan yun BPI. Umabot sa SC at unfair daw yun mga over charging nila.

Pero wala pa naman letter eh. Antayin mo lang muna.


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