what if: I will not pay my bills anymore?

[beni23]

Be careful, meron na ngayong system for blacklisted persons. I just forgot kung ano tawag nila dun. Tinitignan yun ng lahat ng companies, before they hire you, they let you borrow, or for whatever purpose it may serve.

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[1D4LV]

Be careful, meron na ngayong system for blacklisted persons. I just forgot kung ano tawag nila dun. Tinitignan yun ng lahat ng companies, before they hire you, they let you borrow, or for whatever purpose it may serve.

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not all companies, imho. but if you are applying in banks, chinecheck nila yun.

[shadow]

Be careful, meron na ngayong system for blacklisted persons. I just forgot kung ano tawag nila dun. Tinitignan yun ng lahat ng companies, before they hire you, they let you borrow, or for whatever purpose it may serve.

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not all companies, imho. but if you are applying in banks, chinecheck nila yun.

siguro naman hinde talaga lahat ng companies ganyan, eh sigurado din ako dami daming call center agents na nag default ng CC nila...

siguro sa mga financial institution ka mag apply mag check sila...

[shadow]

pag nag default ka sa isang HSBC card mo malamang wala na rin yun isa...

thank you sir shadow, at naintindihan mo ako. i have two CC pa, HSBC din at BPI, sobrang minsan ko lang ginagamit and i have good records for that 2 CC, already learned from my mistakes. kaya ko naman siya i-settle pero di yung one time big time cash, i can pay via installment basis, pero ang nangyayari kasi interest pa din ng interest.

[1D4LV]

siguro naman hinde talaga lahat ng companies ganyan, eh sigurado din ako dami daming call center agents na nag default ng CC nila...

siguro sa mga financial institution ka mag apply mag check sila...

yes, i think its an internal regulation para sa mga BAP members.

[extremeshot]

thank you sir shadow, at naintindihan mo ako. i have two CC pa, HSBC din at BPI, sobrang minsan ko lang ginagamit and i have good records for that 2 CC, already learned from my mistakes. kaya ko naman siya i-settle pero di yung one time big time cash, i can pay via installment basis, pero ang nangyayari kasi interest pa din ng interest.

Why not just transfer your HSBC balance sa BPI cc mo? I think may balance transfer option sila and transfer options usually have lower interest rates. If possible, choose an option na 1500 Lang ang monthly mo and don't use your BPI card for anything else. Termite the HSBC card after you have transferred. Then everybody's happy.

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[Galactus]

CC is an unsecured loans eh, so risk ng bank yan, they did risk assessment and all..so talo sila dahil ang default ka...they'll just sell you account sa collection agency then from what I understand since its an unsecured loans, meron "state guaranty" yan.. I don't know if they can claim it as tax credit or something..so walang talo bangko diyan.

Unsecured loans are loans without collateral. Simply put, they are "clean" loans. So in case of default, there is nothing for the financial institution to foreclose. Contrast that with secured loans, which usually have real estate properties, bank deposits or chattel (movable properties, such as vehicles or machinery), as collateral.

But not all credit card loans are unsecured. There are credit cards issued to individuals with a hold-out clause against deposit/s ng cardholder. So if the cardholder defaults, the bank theoretically can offset the loan balance against the account holder's deposits.

Normally, for loans incurred by individuals, there is no such thing as a state guarantee, wherein the state acts as the guarantor and commits to pay the loan in case of default, but there may be exceptions I'm not familiar with. This normally happens in international borrowings (sovereign guarantee), where an instrumentality of the state (GOCC's, GFI's, etc) is the borrower from a multilateral financing agency (WB, IMF) or from an international consortium of private banks.

When financial institutions write off bad debts, it's true that they can claim it as tax deductibles. But its not an easy thing to prove before the BIR, and the documentation is a pain in the ass. And before any write-off can be made, kelangan may approval pa from the board of directors ng banko. Try arguing why you should write-off over 2 Billion in bad loans, and see their reaction. It won't be a pretty sight. Which is why its being done only as a last resort.

[d'flash]

Why not just transfer your HSBC balance sa BPI cc mo? I think may balance transfer option sila and transfer options usually have lower interest rates. If possible, choose an option na 1500 Lang ang monthly mo and don't use your BPI card for anything else. Termite the HSBC card after you have transferred. Then everybody's happy.

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possible ba ito upon request ko? or dapat sila bank ang mag offer?

[boybi]

Pwede ka mag balance transfer anytime.

[extremeshot]

possible ba ito upon request ko? or dapat sila bank ang mag offer?

You can ask BPI about their balance transfers and what are your options.

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