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Credit card question
10-17-2017, 04:25 PM
Post: #1
Credit card question
Suppose that meron kang outstanding credit card debt na sinisingil na. You and the law office have agreed on payment terms, so you are asked to accomplish an information sheet for reference. One of the items in the sheet asks for information regarding your other bank accounts.

Are you legally obligated to write down the details of your other bank accounts on this information sheet, or do you have the right to omit this detail to protect your privacy?

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10-17-2017, 06:52 PM
Post: #2
RE: Credit card question
why not go straight to the bank instead of dealing with this "law offices"?
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10-17-2017, 07:31 PM (This post was last modified: 10-17-2017 07:37 PM by WallyWest.)
Post: #3
RE: Credit card question
AFAIK, yung mga "law office" na yan ay collection agencies. Once ipinasa ka sa collection agency, it means the bank has more or less written off your debt as their loss. But that doesn't mean you shouldn't pay kasi masisira ang credit standing mo.

I've dealt with a collection agency years ago and it was all done through phone. No info on my bank accounts were taken if I recall correctly.

There's info here in who to contact if you think may irregularity yung deal with the collection agency.

https://www.ecomparemo.com/info/7-secret...u-to-know/



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10-17-2017, 09:38 PM
Post: #4
RE: Credit card question
(10-17-2017 07:31 PM)WallyWest Wrote:  AFAIK, yung mga "law office" na yan ay collection agencies. Once ipinasa ka sa collection agency, it means the bank has more or less written off your debt as their loss. But that doesn't mean you shouldn't pay kasi masisira ang credit standing mo.

I've dealt with a collection agency years ago and it was all done through phone. No info on my bank accounts were taken if I recall correctly.

There's info here in who to contact if you think may irregularity yung deal with the collection agency.

https://www.ecomparemo.com/info/7-secret...u-to-know/



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Talked to a lawyer-friend, and he explained it was for purposes of garnishment i.e. the agency will seize the earnings in your other bank accounts in case you default on the original loan. Fortunately, he said that this wasn't legally required information on my part; I don't have to disclose it if I don't want to.

The good thing was that the agency agreed to adjust the proposed downpayment and monthly payments, since I explained that I have not had regular employment for two years now. I was still able to pay my minimum as of April this year, but the succeeding periods were tough since the projects I was working on were finished, ending my income stream. They previously "demanded" that I commence payment last month with a higher amount, but I simply said I couldn't afford their terms.

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10-18-2017, 08:29 AM
Post: #5
RE: Credit card question
Very Informative Sir WallyWes
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