Saturday, April 24, 2010

Is It A Crime ?

This blog is often being referred to when people search concerns about "Credit Card debts being a crime".

One generally cannot be thrown in jail for failure to pay a credit card debt or failure to pay someone's car loan or failure to pay their home loan. Yet collectors, debt collectors much of the time will call up and pretend to be police officers, pretend to work for a sheriff's department, pretend to be with the government and tell a consumer that the debt collector is a detective. Unless the consumer gives bank account information over the phone, then the consumer will be arrested that afternoon. The consumer cannot be arrested and jailed for failure to pay a consumer debt.
(Consumer rights and debt collection - An explanation of consumer rights and debt collections.

Another popular searched subject covers collection agencies like Molaer, Bilkish, Enzi, Arteche etc. which are define as:

Debt collectors, who work on commission, may be highly motivated to convince debtors to pay the debt, often to the point that they are threatening or abusive to the debtors.

Here are the details :
1.RA 8484 – unless you faked your CC, you need not panic.
2.Dubai - wala tayong pakialam sa civil laws nila and vice versa. Puede
doon 5 asawa. Dito, hinde. See the difference?
3.BP 22 /ChinaTrust – No jail. The judge will issue a bench warrant
only IF you do not attend when invited.
4.Kulong/Warrant of Arrest/HDO – Debt is a civil case ; These are only
applicable for criminal cases

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