Author Topic: credit card debt  (Read 642 times)

Offline 4321go

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credit card debt
« on: June 08, 2018, 12:12:38 AM »
So I left the Philippines 6 years ago with over $20K in USD of credit card debt.  I did not pay the debt.  I did not advise BDO of our new USA contact information, and I am a US citizen.  I had to leave due to poor health which also was the cause of the credit card debt.  BDO simply issued the credit cards to us without having to sign anything due to a large deposit we had made with them in 2009.  I have recovered in terms of health and finances finally and want to start paying down the debt.  I also would like to visit the Philippines again, but am concerned that there could be some NBI hold on me entering or leaving the country or some other potential issue.  I have been in contact with a Filipino attorney that an expat friend of mine used for other issues.  The attorney told me that it is very unlikely that any action has been taken, but that if I want to be sure I can hire an investigator for $500 to see if any court case has been opened.  Just looking for any insight or comments that anyone might have into my situation? 


Offline BudM

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Re: credit card debt
« Reply #1 on: June 08, 2018, 12:37:38 AM »
So I left the Philippines 6 years ago with over $20K in USD of credit card debt.  I did not pay the debt.  I did not advise BDO of our new USA contact information, and I am a US citizen.  I had to leave due to poor health which also was the cause of the credit card debt.  BDO simply issued the credit cards to us without having to sign anything due to a large deposit we had made with them in 2009.  I have recovered in terms of health and finances finally and want to start paying down the debt.  I also would like to visit the Philippines again, but am concerned that there could be some NBI hold on me entering or leaving the country or some other potential issue.  I have been in contact with a Filipino attorney that an expat friend of mine used for other issues.  The attorney told me that it is very unlikely that any action has been taken, but that if I want to be sure I can hire an investigator for $500 to see if any court case has been opened.  Just looking for any insight or comments that anyone might have into my situation?

Great first post.  Someone on here might have had a similar experience and be able to provide some first hand knowledge on it for you.  You might just have to give it a little time but be patient.
Whatever floats your boat.

Offline Lee2

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Re: credit card debt
« Reply #2 on: June 08, 2018, 12:57:21 AM »
So I left the Philippines 6 years ago with over $20K in USD of credit card debt.  I did not pay the debt.  I did not advise BDO of our new USA contact information, and I am a US citizen.  I had to leave due to poor health which also was the cause of the credit card debt.  BDO simply issued the credit cards to us without having to sign anything due to a large deposit we had made with them in 2009.  I have recovered in terms of health and finances finally and want to start paying down the debt.  I also would like to visit the Philippines again, but am concerned that there could be some NBI hold on me entering or leaving the country or some other potential issue.  I have been in contact with a Filipino attorney that an expat friend of mine used for other issues.  The attorney told me that it is very unlikely that any action has been taken, but that if I want to be sure I can hire an investigator for $500 to see if any court case has been opened.  Just looking for any insight or comments that anyone might have into my situation?

I do not have an answer for your credit problem besides telling you to contact the bank directly to try to make an arrangement with them to pay off the money you owe them, I hope someone else who has had a similar issue will post about it but I seriously doubt it would be common enough for that to happen, one thing I know, I would not fly into the country without first trying to clear it up if it were me, a Philippine jail is not somewhere I would ever wish to spend time in.

You might wish to introduce yourself HERE in the Meet Your Neighbors section so members can get to know a little about you in order for some to wish to be more helpful.
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

Offline JoeLP

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Re: credit card debt
« Reply #3 on: June 08, 2018, 06:50:50 AM »
One of my sisters worked in the banking world.  Banks/credit cards plan their interest to cover for accounts they plan to lose and get nothing in return on.  In the 2000-2010 era there were so many bankruptcies filed that they lost money.  They already had some pretty good deals for those who were behind, but after that era happened, they are happy to get any money back. 

Now, she's been out of the banking business since around 2011 so things might have changed, but if you call the bank/credit card and talk with them, they'll most likely remove all interest as well as some of the principle owed because it's better to get something than nothing. 

Bankruptcy costs around $2000 and erases all your debt.  And the banks/credit cards get nothing in return.  They will be happy to work with you and get something back rather than have you do bankruptcy and get nothing.

Not all banks/credit cards will place nice, but most do and will.  And if your plans are to stay in the Philippines, and your USA Credit score won't matter, maybe the $2K price of bankruptcy is the way to go and erase all debt rather than working down the $20K debt.  Just throwing that out there.  The $2k is what it costs around in Michigan.  Not sure if the state matters in pricing or not.  My ex went through it due to debts she ran up because of family being in hospital.  I think the final was around $2100 total cost for lawyer and everything.
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Offline 4321go

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Re: credit card debt
« Reply #4 on: June 08, 2018, 09:24:54 AM »
Thanks for the feedback so far.  Yes, I guess this is a very rare issue and it might be hard to get solid advise as you mentioned.   To clarify this is a credit card issued by a Filipino Bank, BDO, not a US bank.  Debt incurred in the Philippines does not appear on USA credit reports, and I have stellar credit here in the USA.

Offline iamjames

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Re: credit card debt
« Reply #5 on: June 08, 2018, 10:15:07 AM »
If the cards were issued by Visa or Mastercard then I think it is with them rather than the individual bank that you have an issue.

Offline JoeLP

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Re: credit card debt
« Reply #6 on: June 08, 2018, 01:17:12 PM »
Thanks for the feedback so far.  Yes, I guess this is a very rare issue and it might be hard to get solid advise as you mentioned.   To clarify this is a credit card issued by a Filipino Bank, BDO, not a US bank.  Debt incurred in the Philippines does not appear on USA credit reports, and I have stellar credit here in the USA.
My bad.  I took it to mean you had the debt when you left the USA and were in the Phils with that debt waiting for you back home.  I guess either hire that lawyer to see if your blocked from entry or just find the cheapest flight to the Phils and find out that way.  I would be a touch slow on making payments to a Philippine bank unless I could be there and get receipts. 
In the land of the blind, the one eyed man is king.

Offline Peter

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Re: credit card debt
« Reply #7 on: June 08, 2018, 03:46:35 PM »
One way to possibly find out if you will be allow entry, is to go to your "local" Philippines' Embassy or Consulate and apply for a long term tourist visa.

When I was traveling back with Gloria on her annual leaves, before we were married, although I was entitled as a UK citizen to a "visa free" entry, my holidays were always over the permissible time. ie around 32 days, when the max allowed was 21 days.

So I used to apply to our local Philippines Embassy for a 56 day pre-issued visa. It took around 5 working days to process and included, I was told, a check back to Manila (BI HQ Intramuros) by the local Consular staff to confirm that I was one of the "good guys"  :)"

Costs a lot less than a lawyer and the visa is valid for 12 months. But only for a single entry/exit.

Just a suggestion.

Peter

Noli nothis permittere te terere.
Virtus autem corruptibilis est,
summa virtute prorsus corrumpitur,

Offline JoeLP

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Re: credit card debt
« Reply #8 on: June 08, 2018, 06:11:52 PM »
One way to possibly find out if you will be allow entry, is to go to your "local" Philippines' Embassy or Consulate and apply for a long term tourist visa.

When I was traveling back with Gloria on her annual leaves, before we were married, although I was entitled as a UK citizen to a "visa free" entry, my holidays were always over the permissible time. ie around 32 days, when the max allowed was 21 days.

So I used to apply to our local Philippines Embassy for a 56 day pre-issued visa. It took around 5 working days to process and included, I was told, a check back to Manila (BI HQ Intramuros) by the local Consular staff to confirm that I was one of the "good guys"  :)"

Costs a lot less than a lawyer and the visa is valid for 12 months. But only for a single entry/exit.

Just a suggestion.

Peter
That sounds like the winning idea.  Didn't think about that.
In the land of the blind, the one eyed man is king.

Offline 4321go

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Re: credit card debt
« Reply #9 on: June 09, 2018, 12:58:11 AM »
That is a great idea!  I will apply with my local embassy for a longer stay visa as you suggested.  Thank you Peter! 

Offline Peter

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Re: credit card debt
« Reply #10 on: June 09, 2018, 03:43:08 PM »
That is a great idea!  I will apply with my local embassy for a longer stay visa as you suggested.  Thank you Peter!
.

You're welcome mate!

Hope it goes OK for you.

Peter
Noli nothis permittere te terere.
Virtus autem corruptibilis est,
summa virtute prorsus corrumpitur,

Offline Peter

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Re: credit card debt
« Reply #11 on: June 10, 2018, 04:34:56 PM »
Electric's been off today as there is an ongoing power pole replacement along the highway.
So this is from my phone in a wifi cafe.

Had a look at my passport this morning. Details of last pre-arranged visa as follows.

"Type : 9 (a)
Valid from : 15 Nov 2008
Valid to : 15 Nov 2009
Endorsement : Multi entry, Stay not to exceed 59 days.
Cost : RO 36.00 (approx US $ 90.00 ) "

The first two I got were single entry, while the last ones were multi-entry, but still only max of 59 days at a time.

So 59 days, not 56 as I posted earlier.

Peter

Noli nothis permittere te terere.
Virtus autem corruptibilis est,
summa virtute prorsus corrumpitur,

Offline Drew

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Re: credit card debt
« Reply #12 on: August 05, 2018, 01:05:58 PM »
So I left the Philippines 6 years ago with over $20K in USD of credit card debt.  I did not pay the debt.  I did not advise BDO of our new USA contact information, and I am a US citizen.  I had to leave due to poor health which also was the cause of the credit card debt.  BDO simply issued the credit cards to us without having to sign anything due to a large deposit we had made with them in 2009.  I have recovered in terms of health and finances finally and want to start paying down the debt.  I also would like to visit the Philippines again, but am concerned that there could be some NBI hold on me entering or leaving the country or some other potential issue.  I have been in contact with a Filipino attorney that an expat friend of mine used for other issues.  The attorney told me that it is very unlikely that any action has been taken, but that if I want to be sure I can hire an investigator for $500 to see if any court case has been opened.  Just looking for any insight or comments that anyone might have into my situation?

Interesting situation.  Did you have resolution? ???

 


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