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PAGKUKUMPUNI NG NASIRA'T NAPABAYAANG KASAYSAYAN NG UTANG | bad history and delinquency

Repairing Bad Credit History and Delinquency

>8.6.2019: Pagkukumpuni ng Nasira't Napabayaang Kasaysayan ng Utang (bad history and delinquency)



Can a secured credit card really repair bad credit history?

If not, how? Any tips guys? Thanks.
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Comments

  • burntburnt Member PExer
    I'm 29 years old and I just found out I have bad credit rating in the Philippines. All of the sudden, it made sense why I was never granted a credit card even if I have a stable job with a good enough salary.

    Recently, I found out from my mom that an old credit card bill (I believe I was 16 years old at that time) was left unpaid for. Unfortunately, I was an extension card holder and it looks like it affected my credit rating.

    Is there any way I can change that credit rating?
  • tidus1203tidus1203 star of the abes! PExer
    Wala. Just get a secured credit card and be a good payer for a year or something like that.
  • hashplinghashpling Member PExer
    we have an existing credit bureau in the Philippines under the Bankers' Association of the Philippines and all major commercial banks share a database for credit checking and unfortunately they don't purge history (yet...) unlike in other countries that they purge every 3-5 years.

    try to talk to your banker and explain to them that you incurred your bad credit 13 years ago.........the credit report they get from the credit bureau just tell them that they got a hit based on the info they gave like your name, birthday and address and it's up to the 'card company' to interpret and take the risk in issuing you a card.
  • KuyaDannyKuyaDanny Moderator PEx Moderator
    I would think that if you were an extension cardholder, your charges would show up in the same bill as the principal cardholder's. If you did not pay those charges, the default would be for the account of the principal, not you. In such a case, you would have no record at all.

    Are you sure you were an extension and not a regular cardholder who was "guaranteed" by someone else?

    Maybe there is another cause of your bad credit record which you ought to know about.
  • newkidnewkid Member PExer
    Maybe your name is common. You may want to secure your credit card application with a deposit.
  • kennsterkennster Member PExer
    i never knew na may experian, equifax and transunion din pala dito saten.. :D

    but seriously, being a supplementary user, it will still affect your cradit rating if the account goes delinquent but afaik, supplementary users can ask that they be removed from the credit report and unless they do that, they'll be included in the credit report by default.. the logic behind that is why should a supplementary user's credit rating be affected when they are not the one liable for the account.
  • PalPitatePalPitate Member PExer
    Hello

    Hello can you give details on how to get a secured credit card ?

    Thank you
  • --SuperBoy----SuperBoy-- Manunulat PExer
    PalPitate wrote: »
    Hello

    Hello can you give details on how to get a secured credit card ?

    Thank you

    Just go to metrobank (or any bank that offers it), apply for it and make a minimum deposit of 10K. Your deposit will will your credit limit. Or 90% of it i think.
  • --SuperBoy----SuperBoy-- Manunulat PExer
    tidus1203 wrote: »
    Wala. Just get a secured credit card and be a good payer for a year or something like that.

    And if your a good payer for a year, then they will issue you a card kahit wala ka nang deposit?
  • pgmapgma Member PExer
    hashpling wrote: »
    we have an existing credit bureau in the Philippines under the Bankers' Association of the Philippines and all major commercial banks share a database for credit checking and unfortunately they don't purge history (yet...) unlike in other countries that they purge every 3-5 years.

    try to talk to your banker and explain to them that you incurred your bad credit 13 years ago.........the credit report they get from the credit bureau just tell them that they got a hit based on the info they gave like your name, birthday and address and it's up to the 'card company' to interpret and take the risk in issuing you a card.

    can anybody have access to this "credit bureau"?

    supposed you want to know the credit worthiness of a person, do we have something like equifax where you can do your due diligence before extending credit?
  • clifford_guyclifford_guy Pinoy in London PExer
    ^^Are you guys kidding? Meron bang FICO scores ang Pinas?
  • tidus1203tidus1203 star of the abes! PExer
    Walang FICO as in the same ones in the US pero meron ding mga credit bureau dito where the creditors report people whom defualted.
  • TravelBugTravelBug Sakay Na! PEx Influencer ⭐⭐⭐
    They have what they call CMAP database. Banks would add your name in that list if you have unsettled loans, cards etc. My name was also inserted into the database more than a year ago by mistake. I was only trying to open a savings account and yet the bank declined my application. That's when I discovered that my name is on the list. I immediately called up the other bank and asked them to explain to me. They said they will delete my name within 10 banking days. Can I actually sue a bank for doing this to me? Grrr.
  • gcashgcash Member PExer
    Pano ko ba malalaman kung "blacklisted" na ako dahil sa delinquent credit card, loan and postpaid accounts ko? :(

    Pano ko din malalaman kung anong bank/establishment nag "blacklist" sa akin at pano ako matatanggal dun?

    Nagapply ako ng loan sa 2 bank at nag try mag openg ng checking account pero nadecline ako kaya yun lang naiisip kong dahilan.

    Gusto ko na maayos credit ko kaya uuntiuntiiin ko na pagbabayad nung mga utang ko pero gusto ko pa din sana malaman kung aling bank ang nag "blacklist" sa akin.

    Tulong naman sa mga nakakaalam.

    (Pasensha na kung may existing thread na same ang concern)
  • BeerhandBopBeerhandBop I Am WHIP PEx Influencer ⭐⭐⭐
    "Gusto ko na maayos credit ko kaya uuntiuntiiin ko na pagbabayad nung mga utang ko pero gusto ko pa din sana malaman kung aling bank ang nag "blacklist" sa akin."


    all banks share this central database of customers who are 'blacklisted'

    it's gonna be hard to get back your credit if you get into that list.

    I suggest that you apply for a credit card. and get a really small credit limit. use it. pay it off.. and repeat.

    eventually you'd increase your limit.

    also, try to recall the credit cards where you owe money. call them. and settle with them. marami ka siguradong demand letters. find them and start from there.
  • gcashgcash Member PExer
    actually wala akong credit card. paid off na *** standard chartered ko kaya closed na yun. ang problema, may supplementary card ako nung ex ko na alam ko naging delinquent din. as for citifinancial loan, paid off na din yun although naging delinquent din for a time. so technically i have no existing primary credit card nor an active loan. yung globe postpaid ko nlng naiisip kong unpaid to date eh. pero di ako sure kung dahil ba sa extension card ko nung kami pa ng ex ko yung reason kung bakit di na ako maapprove for another card or loan.
  • silkesilke 'Supernatural' addict PExer
    i doubt kung nakakaaffect yung utang sa mga telecom companies.. correct me if i'm wrong pero pag nagkautang ka for example sa globe, di ka lang makakaapply uli ng line with them like internet, landline and cellphone plans..
  • metropolitanmetropolitan the truth hurts, does it? PEx Influencer ⭐⭐⭐
    Credit Managment Association of the Philippines

    Services:
    Listing of Court Cases is a compilation of court cases filed in the different courts of Metro Manila, Batangas, Cavite, Cebu and Davao in the following categories:
    a. Batas Pambansa # 22
    b. Estafa
    c. Foreclosure
    d. Illegal Recruitment
    e. Ejectment
    f. Falsification of Public Document
    g. Replevin
    h. Sum of Money
    i. Unlawful Detainer
    j. Swindling
    2. Listing of Returned Checks is a compilation of clients who issued check(s) which was/we dishonored by the drawee bank submitted by CMAP's members.
    3. Listing of Accounts Endorsed to Lawyers is a compilation of accounts endorsed to legal submitted by the members of CMAP.
    4. Listing of Past Due Accounts from telecommunication companies.
    5. Listing of Past Due Accounts from manufacturing companies.
    6. Seminars and Workshops are held covering topics on credit and collection management and other related fields.

    CMAP members include virtually all telecoms firms, banks and credit card companies.
  • stierzstierz Java fan! PExer
    yes... *okay*
  • ArgerArger Member PEx Rookie ⭐
    Yes, in US that's the main reason why they are issuing secured credit card. After a year, they can decide if they will convert it to regular card.

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