FEEDBACK: totoo bang may write-off sa CC debts mo sa Pinas?

[master_bait28]

Ask ko lang kasi I have a friend who worked with Citibank. sabi nya give it 7 years daw tapos write off na yun. Totoo ba yun?

As in deadma daw yung mga subpeonas na peke na wala man lang RTC/MTC case number. at halatang generic lang na pinapadala na panakot lang.

Give naman nang feedback oh TY *okay* *okay*


:naughty::naughty:

[bankerII]

sobra naman yan. 7 years? tagal na noon :D

[KuyaDanny]

It's possible. But just because a bank has written off your debts does not mean you are in the clear. They might still give your case to some "porsyento" collection outfit who can nag you to death. And your bad credit record can stay stay on their books for far longer than 7 years.

[BeerhandBop]

that's possible. but 7 years is really long to live without credit for.

[bankerII]

The nature of credit card portfolio is very dynamic kaya
account classification is made at a very early age level
( see BSP Cir 398). Write-offs,in turn, are made earlier
as against regular loans.

[bluesoda00]

oo mhirap ****. i was a victim of this. 2007 na pero na check pa din ng bpi yung cancelled acct ko sa citibank na may 20k debt (another story). and that was 2000 pa. so ginawa ko, kumuha ako ng secured card sa bpi. after that the rest as they say is history. i am not sure kung ok na ako but i have 3 unsecured credit cards (aside from the secured bpi), nakapagloan na sa citifinancial (at bayad na), and currently using citibank savings as my cheking account. recently, nagavail ako ng salary loan sa GE. mahgipit sila dahil kahit yung 2 officers namin, ng makita na nasa cmap ang names, declined kaagad. ipinakiusap lang nung hr namin and it took 1 month bago naaprubahan. sympre natakot ako pero lo and behold, aprub ako and in 1 week's time, nakuha ko na yung tseke. kulang na lang **** e citibank credit card na nagpahamak sa kin 8 years ago. as of now,
3x na kong declined.

[hambolpinoy]

Write off.. yep, it's true. Yan ang lugi ng mga banko na may mga credit card. At kaya nila kailangan ng mga collectors na makukulit para magbayad ang mga customers or else, it's the bank's loss. Hehe. I just don't know how long bago sila mag-write off dito sa Pilipinas. Nung nasa Melbourne pa ako parang mas mabilis e. Parang lang, di sigurado. :lol:

The 7 years you're talking about could be the period wherein your name would stay with Banko Sentral ng Pilipinas as someone with a bad record.

I'm currently suffering from this sh.t now. I asked them why I have to be in that list even if I've already cleared my debt (did a 2-yr payment arrangement with them, it sucks) and they said ganun daw talaga. I'm really planning on not paying it nalang talaga kaya lang natatakot ako.

Bata pa kasi ako e. Hehe. Di pa marunong magpigil ng urge to shop.. Kaya puro sermon inabot sa parents. Haha! :rotflmao:

Meron bang way para makapag-apply pa ako sa ibang bank kahit na may ganitong record? Yung mga kakilala ko kasi dami nila cards kahit na delinquent at may mga cards na sila sa ibang banks na di bayad. Pano kaya yun?

[master_bait28]

Meron bang access dyan sa list na yan sa BSP? at *** ba may mga access dyan?

Well lets say you owe a foreign bank CC issuer how long ba maeerase yun.

Currently I still have a credit card pero ang Limit ko was not automatically increase by the bank (eventhough i pay on time and zero balance lagi) sa tingin nyo ba dun sa list na yun affects it?

[bankerII]

its not BSP's job to compile credit account delinquency records. there are private credit exchange bureaus and associations that handle the database. ( although CIBI is partly owned by BSP)

[Galactus-1]

its not BSP's job to compile credit account delinquency records. there are private credit exchange bureaus and associations that handle the database. ( although CIBI is partly owned by BSP)

CIBI isn't partly owned by the BSP. Actually, the BSP doesn't even have a stake in CIBI. It's 75% owned by Motan Corp., the holding company of Antonio Go, formerly of EPCI Bank and 25% by CIBI Foundation. (I was a former employee there).

There's a pending bill in the Senate authored by Sen. Angara pushing for the creation of a centralized credit bureau, and AFAIK, the BSP, along with the other major players and regulators, will be stakeholders. But it has been pending for so long, I don't think its bound to become law anytime soon.

Re: debt write-offs, that is mandated by law and is standard accounting procedure. Sa aming mga financing companies, loans na over 1 year ng delinquent, and those whose collateral value decreased by 50% are supposed to be provided 100% allowance for loan losses, and marked for write-off. But that doesn't mean hindi na mangongolekta yung banko. Tuloy pa rin, but yung accounting entry is now treated as other/miscellaneous income na lang (and not interest income).

[bankerII]

thanks for the info.

Credit Information Bureau Inc., a non-stock, non-profit organization, started in 1982 as a creation of the Bangko Sentral ng Pilipinas (Philippine Central Bank), the Securities and Exchange Commission and the Financial Executives Institute of the Philippines.


accounting entry is now treated as other/miscellaneous income na lang

it is more appropriately accounted under " recoveries" IMHO.
*okay*