credit card debt. can they reposses car as recovery

[shadow]

Mas malaki amount ng bahay & car? So the bank sequestered it, sold it, got their share & gave the sukli back to him?

Ito point ko susuklian ng banko yun debtor dahil mas malaki value ng properties na kinuha nila.

They can't even get it dahil sila ang magakakautang sa debtor?

And I read somewhere I hope ry can enlighten us. Hinde pwede kunin ng banko ang mga family home exempted yan kung talaga hahabulin nila unless siguro kung naka collateral but para sa CC debt it's not even allowed.


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[sirkosero]

Mas malaki amount ng bahay & car? So the bank sequestered it, sold it, got their share & gave the sukli back to him?

No idea kung binalik sukli sa kanya. What i know is hinabol talaga ng recoveries manager (he was later on promoted to senior officer levels) yun properties na pambayad sa card.

Ibang department na naghandle ng liquidation ng assets na yun. I heard rumors na yung kotse binili ng isang high ranking officer sa head office kasi nakita ko pa yun for a time sa parking slot niya.

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[dr. d]

No idea kung binalik sukli sa kanya. What i know is hinabol talaga ng recoveries manager (he was later on promoted to senior officer levels) yun properties na pambayad sa card.

Ibang department na naghandle ng liquidation ng assets na yun. I heard rumors na yung kotse binili ng isang high ranking officer sa head office kasi nakita ko pa yun for a time sa parking slot niya.

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do we have an idea how much the utang was?

[sirkosero]

do we have an idea how much the utang was?

I can't recall, doc. That happened more than 10 years ago... I recall it piqued my interest kasi i was getting married then and was looking for foreclosed properties within the bank na baka kaya ng meager salary ko when offer to purchase via bidding was announced sa email.

Now i recall meron din different cars din na binebenta sa employees dati.. im sure it was not from separated employees so must be from other sources.

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[Ry_Tower]

Ito point ko susuklian ng banko yun debtor dahil mas malaki value ng properties na kinuha nila.

They can't even get it dahil sila ang magakakautang sa debtor?

And I read somewhere I hope ry can enlighten us. Hinde pwede kunin ng banko ang mga family home exempted yan kung talaga hahabulin nila unless siguro kung naka collateral but para sa CC debt it's not even allowed.


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Under the Family Code, Articles 153, 155, 157, 160, and 161 read altogether states as a general rule that the Family home and the land where it stands is exempt from execution, forced sale or attachment except;

(1) For nonpayment of taxes;

(2) For debts incurred prior to the constitution of the family home;

(3) For debts secured by mortgages on the premises before or after such constitution; and

(4) For debts due to laborers, mechanics, architects, builders, materialmen and others who have rendered service or furnished material for the construction of the building.

The exemption of the family home from execution, forced sale or attachment is limited to P300,000 in urban areas and P200,000 in rural areas, unless those maximum values are adjusted by law.

If we are talking about debts from CC, for sure unsecured loans yan. Hence in our scenario, exemption for #3 does not apply.

So the bank must file a civil case fo collection then let's assume manalo eh magfile ng collection suit din sa same court which rendered judgment with finality sa civil suit. Then patunayan niya na more than sa 300/200K value nung family home at pwede na magkaroon ng execution sale para yung sobra ang ibigay sa creditor. That law assumes na yung debtor eh gagamitin na lang yung P300/200K para makahanap ng lilipatan.

[_Cathy_]

Kags posted na poor daw mga tsikoteers talking about credit card debt 😂

I'm sure tsikoteers are transactors (paying full amount every month) and not revolvers (leaving a balance or paying minimum amount) I don't get kags logic, porque napagusapan, guilty na? Hahaha

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[makelovenotwar]

Naalala ko dati ay nagkautang ako sa Citibank CC dahil sa annual fee, P3,500 IIRC.
I tried to have the annual fee waived kaso hindi pumayag.
On time ako nagbabayad ng lahat ng purchases ko using CC. Yung annual fee lang ang hindi ko binayaran.
Nakipagmatigasan ako na hindi ko babayaran.
Ayun lumaki ng lumaki dahil sa interest tapos naipasa na ako sa CA.
Bale wala sa akin yung harassment nung CA kasi malakas ang loob ko na ang liit lang ng utang ko para mag-file pa ng case against sa akin.
Kaso nga lang ay kinailangan ko na mag-loan sa bank. Ayun hindi ako naa-approve kasi may bad record daw ako.
Kaya napilitan ako makipag-negotiate sa CA. Parang nasa P5,000 yung binayaran ko.

After ko magbayad, nag-send sakin ang certification ang Citibank na bayad na ako.
So siguro ay hired CA lang yung sa case ko?

[papi smith]

So nung mabayaran mo ang utang mo pwede na ulit umutang, as in burado na ang nakaraan?

[shadow]

Naalala ko dati ay nagkautang ako sa Citibank CC dahil sa annual fee, P3,500 IIRC.
I tried to have the annual fee waived kaso hindi pumayag.
On time ako nagbabayad ng lahat ng purchases ko using CC. Yung annual fee lang ang hindi ko binayaran.
Nakipagmatigasan ako na hindi ko babayaran.
Ayun lumaki ng lumaki dahil sa interest tapos naipasa na ako sa CA.
Bale wala sa akin yung harassment nung CA kasi malakas ang loob ko na ang liit lang ng utang ko para mag-file pa ng case against sa akin.
Kaso nga lang ay kinailangan ko na mag-loan sa bank. Ayun hindi ako naa-approve kasi may bad record daw ako.
Kaya napilitan ako makipag-negotiate sa CA. Parang nasa P5,000 yung binayaran ko.

After ko magbayad, nag-send sakin ang certification ang Citibank na bayad na ako.
So siguro ay hired CA lang yung sa case ko?

So hinayaan mong ma blacklist ka dahil sa ₱3.5k? I mean, ano ginawa mo sa card? Hinde mo naman pwede pa cancel dahil meron ka pa balance.


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[_Cathy_]

So hinayaan mong ma blacklist ka dahil sa ₱3.5k? I mean, ano ginawa mo sa card? Hinde mo naman pwede pa cancel dahil meron ka pa balance.


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You can close/cancel a card kahit may balance pa. That's what some card holders do so they won't be tempted to use it anymore, pero ang charges tuloy tuloy pa rin

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