Dear Creditor,
Thank you for sending me a demand letter …..
Translation: See? You can still contact me. Therefore I am not hiding from you.
Much as I wanted to settle my obligation….
Translation: I have no intention to defraud you. Hence, no applicable criminal case under RA8484 nor possible preliminary attachments under Rule 57 of the Rules of Court
Sue Me In Court? Consider the following first:
1. You have no authority from the bank to sue me in their favor;
2. My account is quite minimal versus your additional expenses;
3. The judge does not want to be your collection agent (only clogs court cases)
4. Court will just refer the case for mediation/conciliation
5. Case will take long, so, no immediate Christmas bonus for you!
6. The decision will be in your favor but amount is diminished.
7. The debtor will also ask: “Do I have money to pay you?”
8. If you cannot collect money, does your debtor have properties you can attach?
Remember Family Code:
Art. 155. The family home shall be exempt from execution, forced sale or attachment
9. What else can you do? NOTHING, thus you just go back to :
“Making a compromise repayment arrangement that is practical and easy to meet by me –which was what I have been requesting all along in the first place!” Tsk….tsk…tsk… what a waste of time and efforts, and all because of greed?”
Next… The Call
Thank you for sending me a demand letter …..
Translation: See? You can still contact me. Therefore I am not hiding from you.
Much as I wanted to settle my obligation….
Translation: I have no intention to defraud you. Hence, no applicable criminal case under RA8484 nor possible preliminary attachments under Rule 57 of the Rules of Court
Sue Me In Court? Consider the following first:
1. You have no authority from the bank to sue me in their favor;
2. My account is quite minimal versus your additional expenses;
3. The judge does not want to be your collection agent (only clogs court cases)
4. Court will just refer the case for mediation/conciliation
5. Case will take long, so, no immediate Christmas bonus for you!
6. The decision will be in your favor but amount is diminished.
7. The debtor will also ask: “Do I have money to pay you?”
8. If you cannot collect money, does your debtor have properties you can attach?
Remember Family Code:
Art. 155. The family home shall be exempt from execution, forced sale or attachment
9. What else can you do? NOTHING, thus you just go back to :
“Making a compromise repayment arrangement that is practical and easy to meet by me –which was what I have been requesting all along in the first place!” Tsk….tsk…tsk… what a waste of time and efforts, and all because of greed?”
Next… The Call
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