Saturday, October 30, 2010

Calls - Again(?)

Being pestered by callers?
"Ano plano ninyo"?
"..otherwise we will file a case"

Here are two suggested replies:

"According to my lawyer, sa court na
daw natin pag-usapan ito."

" Mahal ang abogado"
"Problema ko na yun!"

So, what else can they threaten you with?
You already called their bluff!


"Sir/M'am", What we are discussing here,
can't you put that in writing, para formal

Saturday, October 23, 2010

The Family Home

Family Code of the Phils.

Art. 152.
The family home, constituted jointly by the husband and the wife or by an unmarried head of a family, is the dwelling house where they and their family reside, and the land on which it is situated.

Art. 153.
The family home is deemed constituted on a house and lot from the time it is occupied as a family residence.

Art. 155.
The family home shall be exempt from execution, forced sale or attachment.

Art. 157.
The actual value of the family home shall not exceed, at the time of its constitution, the amount of the three hundred thousand pesos in urban areas, and two hundred thousand pesos in rural areas, or such amounts as may hereafter be fixed by law.

In any event, if the value of the currency changes after the adoption of this Code, the value most favorable for the constitution of a family home shall be the basis of evaluation.


Sec. 9. Execution of judgments for money, how enforced
b) Satisfaction by levy.
the officer shall levy upon the properties;
The sheriff shall sell only a sufficient portion of the personal
or real property of the judgment obligor.

In other words, if your property is valued at P 1Million;
Your debt is P400,000.00 only, the sheriff will pay you
back P 600,000.00 once your property is "sold".

What if it is mortgaged?
If it is mortgaged for P 800,000.00, the sheriff will
pay the creditor P 800,000.00 then "get" your house.
Is the bank that stupid enough?

Saturday, October 16, 2010

I Want To Pay

May utang ka.
Walang pambayad kaya na default.
Nanalo eventually sa lotto.
you want to pay now.
where? how?

1. go to the bank personally.negotiate.
2. be prepared to be frustrated though
if they will not entertain you but
refer you instead to their collection agencies.
( wala na kasi silang pakialam sa account mo)
3. Masaya naman si collector! pera na ito!
kaya, mega-harass ka naman para madali ang pera.
4. What option is left? the court!
antayin mo na lang if they file a case.
ganoon din ang mangyayari anyway, as if you
went to the bank to negotiate.

but what if they wont file?
donate mo na lang sa church or favorite charity pera mo
may kabuluhan pa.

Saturday, October 9, 2010

Pag-Ibig Loans

Housing loan is a secured loan with your house itself as collateral.
Financing is not 100%( in most cases)since you are required an equity.
This is also against your future benefits with the Pag-ibig fund.

Hence,it is mostly risk free.
Unlike credit cards.

So, who cares if you have unpaid cards?

Tuesday, October 5, 2010

Mindanao Daily Mirror Item

Some collectors are trying to milk this item to mislead & coerce people to pay:

Bankard files cases against 2 card holders

...against credit cards holders who failed to pay their outstanding obligations. Records from the Branch 4, Municipal Trial Court in Cities
of Davao City shows that.....Sum of money cases were filed in Court by BANKARD Inc.. . .

"The notion that nobody goes to jail for not paying their debts no longer holds true especially with the passing of Republic Act 8484, which now makes it a crime or a criminal act" Atty. Vanessa G. Revamonte explained.


There are TWO issues here being discussed:

1. They filed a CIVIL CASE for "Sum of Money" ;
2. Explained about RA 8484 that imposes a penalty of imprisonment for debts
(IF it stemmed from using FAKE CARDS)

She is right. She is telling the truth, but NOT THE WHOLE TRUTH.
otherwise, Atty. Revamonte could have filed a CRIMINAL CASE and not
a civil case.


- - - - - -

Bill of Rights
SECTION 20. No person shall be imprisoned for debt or non-payment of a poll tax.

RA 8484,and other related laws, punishes you, not because of debt, but because of other things like dishonesty or deceits.

No law is designed to coerce a debtor to pay his debt.

Saturday, October 2, 2010

They Will File A Case!

No big deal.
Collection Agencies collect, not file cases.
They know this, for practical reasons:
- why file when you can just do a harass-and-collect or
coerce-and-collect modus operandi?
- why spend for unnecessary litigation expenses when
a threatening call will simply do it?
- what if there is nothing to collect even after
filing a case? Debtors stopped paying because they do
not have the money in the first place!

Back read post in this blog.
To know your rights. To know their lies.

By the way, may mga bonus pa ang mga iyan. " Early Birds" or
"Top Performer Of The Month".