I read a lot of horrible stories about harassment from credit card debt collectors here in the Philippines. So I decided to share with you what I’ve researched on how you can handle them confidently?
1. Regardless how much your credit card balance is, you have the right to ask the debt collector a copy of your Statement of Account (SOA ) duly signed and certified by the bank. A letter with the amount of request to be paid, or a letter showing an offer to pay your credit at a discounted rate are not your SOA. If in case they provide you an SOA, make sure to call the bank to verify that is indeed a true copy or just another fraud from a debt collector. No SOA, NO PAY.
2. You are the one to decide on how much you can afford to pay them. Send them a proposal letter via email or snail mail about your proposal of repayment and again should be according to your financial capability.
3. If they provide agreement, it should be a written agreement not verbal so at least you have a proof in case they deny that you are really paying.
4. If they don’t agree to your proposal of payment. So don’t pay them instead be confident to say that you will just let this be handle by the court. Challenge them to sue you because at the end of the day it is better that small courts handle this in a legal and fair way. Don’t be afraid to go into jail, being incapable of paying your debts is not a criminal case though, its only a civil case.
5. I doubt if they will pursue this in court to think that it will surely eat their time , money and effort. It is such a waste of energy for them. But if in case they will do, then lucky you are. The judge is so compassionate for debtor that he will ask you to pay your debt but only how much you can afford to pay the complainant.
6. Police came to your home on behalf of the credit card debt collector? Get their name, precint and their car’s plate number. If possible, get them recorded in a video. This is not their job and you can file a complaint against this police. Same story with barangay captains.
7. Credit card debt collector sometimes pretends a sheriff trying to enter your house and get your appliances? You may tell them that you can file criminal case against them ; tresspassing, extortion, unjust vixation etc.
8. Credit card debt collector texted you that you already have warrant of arrest ? Come to think of it, if you are informed in advanced that you have a warrant of arrest…will you not hide immediately? So definitely this is just another fraud from Credit Card Debt Collectors. Warrant of Arrest is just for criminal cases and again not paying your debts is just a civil case. And besides, warrant of arrest is given personally by an authority not over the a phone call, text, fax or email.
9. They don’t stop harrasing you over the phone, going to your house and what not. Tell them the same thing” Just sue me in court anytime”
10. They are saying that they can file RA 8484 criminal case against you. Well let me tell you, this are just for people who tried to do credit card fraud. They are just kidding aside.
Why credit card debt collectors in the Philippines are telling lies? One thing for sure this is only because they need to feed their gluttony. So why waste your money with this people. It’s time to focus more on your priorities and live a happy life. You are not trying to hide from your obligations anyway, its just that you are not yet capable of paying it.
So now that you know who they are, I feel sorry for these credit card debt collectors because they’ve just deal with another debtor like you who knows their modus operandi already.
For more information about How to Deal With Credit Card Debt Collectors in the Philippines,Here is one of the blog about guideline on credit card paranoia where I read all about this. You will surely learn a lot.
Because I know that you want to know more about facing credit card problems. Here’s another article I just wrote and you will find helpful: Criminal Case For Filipino Credit Card Defaulters? Really? read here.
Published in: Personal Finance