3H Club of CC Defaulters:

1.How To Pay

-Do you know how much is your debt? No? Then, go ask for your SOA.
If they can’t provide you one, it only means one thing. You have no
Utang! Logical enough?
-You want to pay but can’t afford it? Then, negotiate. They wont? stop paying.
You cannot afford it anyway. Then, just wait for the court to settle this issue.

2.Harassments

Letter - don’t open anymore. No good news there anyway. All LIES.
Calls - don’t argue, explain, plead. Useless and pointless. Wait for
the court to settle this issue instead. Better.
Visits - You have the right not to let them enter your premises.
Rights To Privacy. They will merely give you a ¼ shit of paper
to call Atty Ek-ek, Fiscal Ek-ek or SPO1 Ek-ek. Yes. They are one and
the same. Who else, but Mr. Collector himself!
Office Visits? If they cannot show you their authority from the bank,
then, they might just be pretending. Heard about Extortion or Fraud?

Mutants : CP calls and texts
Press ‘delete’. You have other better things to do than waste your
time listening or reading about their lies.

3.Hope

What’s the worst thing that could happen to you? Nothing. Even if they file a million cases against you, if you have no money, what else?
Having a case means " all your troubles will soon be over"

Move on.


After you over-come your paranoias, please help others in similar situations.
You already know how it felt. Right? Don’t just fade away…..

Legally Right ; Morally Wrong

Collectors ( and Self-style Moralists) are fond of quoting this :

" Ang Utang Dapat Bayaran"

To which the Supreme Court says :
We can not consider the rate "usurious" because this Court has consistently held that Circular No. 905 of the Central Bank, adopted on December 22, 1982, has expressly removed the interest ceilings prescribed by the Usury Law and that the Usury Law is now "legally inexistent."

However,The Supreme Court further says :

Nevertheless, we find the interest at 5.5% per month, or 66% per annum, stipulated upon by the parties in the promissory note iniquitous or unconscionable, and, hence, contrary to morals ("contra bonos mores"), if not against the law.

If not being able to pay is immoral, what can you say about THEM?

Thought of the Week:

What is legal does not necessarily mean moral

Mis-Quotes

A Quitter never wins;
I quit paying and save money from a never-ending financial marathon
A Winner never quits.
that's greed!

Ang utang ay dapat bayaran
..doon sa pinag-kautangan, hinde kung kani-kanino lang collectors.
Upang tayo ay pagkatiwalaan
Nag-tiwala tayo, kaya naloko.

Kung gusto, maraming paraan;
hinde lahat na paraan,legal
Kung ayaw, maraming dahilan.
Walang dahilan na tama
sa taong ayaw maniwala.

The Court Is My Friend

He who has less in life should have more in law
- President Ramon Magsaysay

Often times, we allowed ourselves to be shouted upon, pagagalitan,threatened,pinapahiya,trampled upon, and
eventually lose our self-respect and dignity, not for us
alone, but also our parents,wife,husband,officemates
and even our innocent children.
We plead,we argue,explain,even paying our last peso
- all because we are afraid that they will sue us.

Maling akala pala!

Dare the bluff.Let us meet them in court instead.
It's actually the best option we can have.
Why?

1. To finally put a stop to these humiliations and harassments
by these abusive collectors who act as if they own us.
Ano pang legal ek-ek ang masasabi nila after the dare?

2. It means any negotiation is formal,legal and appropriate.
Remember the last time we paid, out of fear, then learn later
on that our utang pala simply did not move at all?

3. Our debt will be rationalized - The court,for several times,has
ruled against those "excessive,unconscionable and exorbitant,
hence,contrary to public morals" charges including 25% attorney's
fees,42%p.a. interest, 60%p.a. penalty, absurd over-the-limit fees, etc...

4. Repayment would be more practical - pay what we can afford, not
what is forced upon us.

5. Less expensive,as most cases would fall under Small Claims Courts

6. Lastly, lawyers are not allowed!

The following issues hopefully will be resolved:
1. Is it true that you have an utang? Yes
2. Is it fair? No
3. Do you have money/properties to pay? No

case dismiss.

birds

http://www.iserenity.com/birds/birds.htm

The Art Of Negotiation

Collectors use intimidation to win. They will cite legal ek-ek,
pretend to be somebody they are not,even tell you "Ang Utang
Ay Dapat Bayaran"(same stuff often justified by those pseudo
moralist in our midst) - no matter if you die or where you get
the money to pay them.
The goal is to overpower and instill fear to debtors.
This seems to work most of the time until you somehow reaches
this blog, and viewpoints change.

The collector calls.
You negotiate to pay P 500.00 per month ( weak position )
The collector says NO. "We will sue you" ( strong position)

A better way to negotiate is to:

FIND OUT WHAT THE COLLECTOR NEEDS
TRY TO MEET THAT NEED
BUT WITHOUT LOSING YOURS.

The collector calls.
You negotiate to pay in full but with 50% discount of the P100,000.00
NEXT MONTH ( strong position )
The collector says yes due to commission.( weak position)

He calls after one month.
You inform him you only got P40,000.00. Can he wait until
you can come up with P 50,000.00? ( strong position )
Collector agrees to accept the P40,000.00 payment anyway
( Take it or leave it. he needs his commission NOW)

Moral of the Story:

Negotiate from your strong points;
never on your weaknesses.


p.s.
your account may no longer be existing with the bank.

Bankard '08 income soars to P276.1M
..mainly due to one-time boosts from the sale of its shares
in Visa, Inc. Also, its collection from fully provisioned and previously
written off credit card receivables rose by 13.2% to P98.6 million from P87.1 million

http://www.bworldonline.com/BW041609/breakingnews.php#832

Ang Utang Dapat Bayaran O Dapat Nga Ba?

It's Holy Week. Maybe, you can reflect on this statement,together
with the Collector.

The Collector says " You should pay. you used it"
The Self-righteous says " It's your moral obligation"

I ask:
"Even if I sell my soul to pay?"
"Even with a usurious rate of 60% interest,42% penalty plus 1/4 of
everything going to the lawyer who did nothing but harassed me?"
"Even if I paid already TRIPLE the amount of what I owe?"
"Even if my children will die of hunger?"
"Even if you bought trauma to my 5-year old kid by shouting at her,
made by 70 year old mother land in the hospital or nearly killed my
father with a nervous breakdown?

They say its my moral obligation.
And what they do are morally right?

I remember that it was the priests who sent Jesus to the cross.
I remember it was the priests who betrayed the revolution in Noli.

Is morality only for me and not for you?
Does one has the monopoly of Morality?