how can i pay my credit card bills if i lost my job and i can not pay my obligations?

Question

will the credit card companies in the philippines send me to jail for not paying my credit card bills. will they take away my assets such as car, appliances, etc.

Answer 1

Under the Constitution, no person shall be imprisoned for non-payment of debt. Your obligation is only civil in nature and you cannot be imprisoned. The credit card companies has only the right to demand the payments but cannot charge you of any criminal case to send you to court.

Answer 2

I have the same scenario and the bank told me to borrow from the loan shark and pay them instead. How cruel can they be, so people out there be careful on what you are spending and if you stop spending the bank cannot be cruel.
I learnt from my lesson and cut away all my credit cards and I am always be rude with the bank staff.

Answer 3

Credit card companies no matter what country you are in do not have a history of having mercy... meaning they are not your friend.

I'm not sure about bankruptcy laws in the Philippines but that is my suggestion... research it and hopefully you can salvage your belongings.

Answer 4

the bills can be turned over to collections. it's not their responsibility to take care of the bills, so it's up to you to pay them. credit card companies don't care that you have no job, unfortunately. only if your car isn't paid for can they repossess it. they can't take your toaster, but your house can be seized.
simple solution, find a job.

Answer 5

To stix: creditors most certainly can take toasters, refrigerators, furniture or any other item that they can establish was paid for by the defaulted credit card.

Answer 6

need not worry, just go the said bank and discuss your problem with them.do not be afraid to see them.

Answer 7

You should go out and find another job.

Try selling plasma.

Answer 8

hook or strip