unpaid loans and credit cards

JCCS · 1 unpaid loans and credit cards Fri Mar 18, 2011 1:10 pm

JCCS

Arresto Menor

Posts : 2
Join date : 18/03/2011

Hi Atty,

I would like to ask regarding my unpaid credit cards. We have just transferred to a new residence but we still owned the old residence. Is it necessary to inform the bank regarding my new residence?

Hoping for your response..

attyLLL · 2 Re: unpaid loans and credit cards Fri Mar 18, 2011 11:38 pm

attyLLL

moderator

Posts : 21671
Join date : 12/04/2010
Location : https://www.facebook.com/BPOEmployeeAdvocate/

i recommend that you let them know because failure to inform them of your new residence will raise the presumption that you intended to commit fraud.

JCCS · 3 Re: unpaid loans and credit cards Sat Mar 19, 2011 8:06 am

JCCS

Arresto Menor

Posts : 2
Join date : 18/03/2011

Thank you Atty for the enlightenment. I'm afraid kasi that they pursue the case since the residence that we are occupying is newly approved housing loan of Pag-ibig. If in case they will pursue the case, is the property under mortgage included in the attachment of the writ of execution?

Thanks again.

attyLLL · 4 Re: unpaid loans and credit cards Sat Mar 19, 2011 9:11 am

attyLLL

moderator

Posts : 21671
Join date : 12/04/2010
Location : https://www.facebook.com/BPOEmployeeAdvocate/

unfortunately, that is the risk you have to take. on the other hand, they can execute against your interest in the property, but they absorb the mortgage so i don't think they'll want that property.

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unpaid loans and credit cards

1 unpaid loans and credit cards Fri Mar 18, 2011 1:10 pm

JCCS

2 Re: unpaid loans and credit cards Fri Mar 18, 2011 11:38 pm

attyLLL

3 Re: unpaid loans and credit cards Sat Mar 19, 2011 8:06 am

JCCS

4 Re: unpaid loans and credit cards Sat Mar 19, 2011 9:11 am

attyLLL

5 Re: unpaid loans and credit cards

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