unpaid credit card balance

good day. pls help i have also problem with CC. nag try po ako makipag negotiate sa bank for restructuring scheme but they turned down my offer. instead they offered me a scheme na hindi ko po kaya bayaran. so i decided to let them file a case.

ask ko lang po kung gaano katagal ang court process para po sa ganitong case? ang plan ko po kasi mag save nalang ng paunti unti para po pag dumating ang time na mag meet kami sa court, may pera na akong pang offer sa kanila.

thank you po in advance.

It depends on how much you owe the bank.

If it is less than P300k, they can file a collections case on a small claims court. It is a fast process and there could be a resolution within the day.

If it is more than that amount, it will be in the Regional Trial Court and it will be a civil case for a collection of sum of money. At that point, you should have a lawyer represent you in court.

You should consult with a lawyer immediately regarding your case. They may be able to negotiate with the bank in your behalf.

Good luck.

good day.

sir, thank you very much for your advice. my updated balance as of Oct. 01, 2018 according to the bank is 250+. nag offer po ako na bayaran ko ng 5,000/month until ma settle ko ang obligation ko pero ayaw nila. instead they offered me 6,400/month for 60 months period (1% per month ang interest). need ko lang daw mag down ng 12k para ma process na nila yung papers. ang problem ko po kasi wala akong pera now para sa 12k na hinihingi nila. by the way po pala, when i started negotiating with them last July 2018, sabi nung kausap ko na account officer need ko daw magbayad ng 11,300 para ma start yung process ng request ko for restructuring. pero 2months ang lumipas wala sila formal reply so decided to follow up. dun ko lang po nalaman na yung binayad ko na 11,300 nabawas lang sa utang ko pero hindi nila na process yung request ko na structuring.

sa tingin po ninyo, acceptable na po ba yung offer nila? ire require po ba nila ako mag issue ng tseke? or may pipirmahan lang documents? ang worry ko lang po kasi baka hindi ko makaya yung 6,400/month meron pa kasi ako ibang utang na binabayaran.

your valued advice is very much appreciated. thank you again.

Right now kasi, you are not in a position to negotiate with the amount to be paid since ikaw talaga yung may utang and you were the one who defaulted in the first place. It may be possible to ask for a lower amount, pero we cannot force the bank to realistically comply with your terms since ikaw nga yung may kasalanan.

However, that is why I suggested that you hire a law firm that specializes in dealing with loans and whatnot. They may have negotiating skills that goes beyond what we could do here in this forum.

Good luck.

thank you for your advice and time to reply. until next time po!

You're very much welcome.

I wish you good fortune in your case.