Sunday, September 28, 2008

Me, A Criminal?



I often read about collectors informing Credit Card borrowers about RA8484, for not being able to pay, they are ‘defrauding creditors” kuno

NEWS ITEM

CRIMINAL charges were filed yesterday against two men believed to be part of a syndicate scamming credit card firms through fake applications.

Mr. X & Mr. Y were charged with violations of Republic Act (RA) 8484, which regulates the issuance of access devices like credit cards and prohibits its fraudulent use.


RA 8484 defines the crime as “the use of falsified document, false information, fictitious identities and addresses, or any form of false pretense or misrepresentation” in the application of an access device.

This is giving misleading information. Simply transferring residence is not misleading them, hence, not subject of RA 8484. The important word there is “surreptitiously”

note:
originally published under our wordpress site;
republished here due to increased requests

Sunday, September 21, 2008

Financial Marathon



It's a never ending chase towards " FULL PAYMENT "

Every month, you pay P 1,000.00 because :

-It's all I can afford
(then prioritize your family needs first)
-To show willingness to pay
(they dont care ; they'll even demand for MORE)
- To stop the harassment
(sorry to disappoint you,but it won't,it will in fact just intensify)
- They told me so
(and you believed them?)

But your interest and penalty charges alone amounts to P 2,000.00
monthly!

STOP. Beijing Olympics is over. but your payment wont.

Monday, September 15, 2008

My Debt


Debt is a humbling, not humiliating, experience.

The Credit Card Grief


Credit Card Grief
(Based on Elisabeth K├╝bler-Ross’ Five Stages of Grief)

1. I Can Still Pay.

Denial
A conscious or unconscious refusal to accept reality relating to the situation concerned.
It's a defense mechanism and perfectly natural.

2. Why Do I Have To Lose My Job At This Time?

Anger
Angry with themselves, and/or with others, especially those close to
them.Knowing this helps keep detached and non-judgmental when
experiencing the anger of someone who is very upset
(e.g. parent/husband/wife)

3. Can I Only Pay What I Can Afford ?

Bargaining
"Can we still be friends?.." when facing a break-up. Bargaining
rarely provides a sustainable solution.
( Remember the “Amnesty Program”? )

4. They’re Going To Sue Me!

Depression
It's natural to feel sadness and regret, fear, uncertainty, etc.
It shows that the person has at least begun to accept the reality.

5. Go Ahead, Sue Me!

Acceptance
An indication that there is some emotional detachment and objectivity.