Sunday, March 30, 2008

To Pay Or Not To Pay

1. You used that money
except if it is tainted with charges that are "excessive, unconscionable and against public morals"

2. You will be imprisoned
if you used a fake card, that is.

3. To stop the harassments
it wont and if you do not wish to report them to Bangko Sentral ng Pilipinas

4. So that I can have a good credit standing
can you erase an experience?

5. I will be liable for RA 8484
...if evidence warrants ( it does not)

6. They will get my properties
aside from family home and those exempted by law, do you have ANY they can identify ?

7. They are offering me a big discount!
if you honestly believe them

8. They will sue me.
they wont ; they can't

9. To have an NBI clearance
the clearance covers criminal cases, not credit card debts.

10. I want to get ANOTHER card
oh no, not again...!

Top Ten Reasons Why Should You Should Not Pay
10. The bank will not close because of me.
they will simply deduct your debt from their taxes

9. The bank will not entertain you.
they will simply refer you to their goons
It cannot compensate those sleepless nights, mental anguish, besmirch reputation and public humiliation you got.
not unless you just simply choose to forget everything?

7. They tricked me into signing a one-sided agreement.
did they made you look funny?

6. My account has ballooned from P 10,000.00 to P 200,000.00!
why should I pay one-fourth of my obligations as attorney's fee?

5. My father almost died of heart attack due to their harassments.
Can one simply just forget it as if nothing happened?

4. They are not authorized to make compromise agreements.
They haven't shown ANY documents to prove it.

3. I can only afford to pay P 500.00 a month.
You will just engage in a never ending financial marathon.

2. I would rather feed my family rather than their greed.
I"ll take that option anytime, my friend.
.........And the TOP reason:

1. I don't have the money!

what else can you do? sell your soul just to please them?

Monday, March 24, 2008

Debt Is A Finance Problem, Why Hire Lawyers?

Extending credit covers the whole of credit processes and procedures - from initiation, evaluation, account management, remedial management, until it goes a full cycle. Somewhere along the way, there are mistakes and weaknesses, thus, an account turned sour. But a loan does not deteriorate overnight. There are "red flags" - warning signs. Early intervention is a must - remedial management. That's what Account Officers are for.

Good. Some CC accounts are able to identify these early warning signs themselves and try to renegotiate terms. But there seemed to be a dearth of properly trained AOs out there. Here's a sample of what we used to write :

dear account,
this is with regard to your account which we noticed lately is incurring delays.....
.....if payment is a problem , we would like to discuss it with you and perhaps we can work out .....

In contrast, one would now get the following letter:

dear account,
... we will file a case against you for violation of RA 8484 blah...blah..blah...

Omigosh! the poor guy can't pay. Debt is a finance problem. This is not a legal problem. You could have identified earlier a deteriorating account had you done your job. Or are you sleeping on your job?

Mabuti pa Si Judge, alam ito.

Wednesday, March 19, 2008

Diskarte - Questions and Comments

How our eyes would strain reading those over a hundred comments! I opened another chapter here to help you avoid that experience. However, it is advisable to visit regularly our Diskarte Bulletin for any advisories.

Post it away........

Wednesday, March 5, 2008

Got Any Query? Series II


Go to our Diskarte Bulletin(January 2008) chapter first to view any advisories.

Please go to "Diskarte - Questions and Comments"

The most Frequently Asked Question is "What Shall I Do With The Collectors?"

Answer :
Ignore, if you can.
If not, dont argue,explain or plead. pointless.
The more you entertain them, the more you get harassed.
( check the dictionary meaning of entertain )