Credit Card Nightmare

I has been years but I can still remember how I was back the. I was young and happy that I was approved for a credit card. I told myself that I would only use it for "Emergency" situations but that not what happened. I ended up swiping my card whenever I feel like it. I didn't know that my debt is filing up. I have been paying, yes, but it wasn't enough to cover all of my balance as the day goes by my balance is getting bigger and bigger. 

One day, I received a phone call from a collections agent asking for my payment. The agent was so rude as if I owe him anything. Back then I just moved to a new company which means I do not have enough pay to cover all my bills. They keep on calling me everyday and what makes it hard is that they are harassing me. They told me that they will come to my place and take my things as payment things like that. One time an agent told me that they will go to our Barangay to file complaint against me and then there's this one incident that they told me that a sheriff will show up to my place. 

Honestly, I wasn't able to sleep because of the harassment that I received. I remember one agent even came to my place pretending to be a lawyer. He spoke to my mom and it made her very uncomfortable. I really do not know what to do until my friend who works at a bank told me the following:

• Bank representative/lawyer will never go to your place. So if someone comes in and makes a scene get their name and file a complaint to BSP.
• Some people are rejecting collection notice, you should accept it as proof that you are residing at the address on file because they might use that in case they file a complaint.
• If they file a case against you, go to the court and tell them how you can pay off your debt. There you will have a chance to pay your debt according to how you want to pay it. But most of the time, they DO NOT file a case because they do not want waste time and money. 
• Collection agents are most of the time from third party collections agencies, bank sells delinquent/cancelled accounts to third party collection agencies. If they get you to pay, that's how they will earn.

Knowing all the stuff I mentioned is good but then there is no better way to avoid Bad Debt other than spending wisely. Do not buy anything that you cannot pay right away. I have learn my lesson in a hard way, I hope you guys have learned something from me. 

Lesson Learned

I learned a lesson this year and that is not to get a loan. My friend and I applied for a salary loan to a lending company. They required a lot of documents which I can understand but the problem is their process which I really don’t understand. I mean it is clear that I pay twice a month but what I don’t understand is why my checking account closed and they are claiming that they did not receive any payment. I applied for a loan way back April. I thought everything is okay I am paying twice a month until I received a phone call from a collections agency asking me to pay. I am so scared that I called the bank and they told me that there are floating funds under my name. They said my account closed last September and they can only get the funds if they have the receipt. I understand that but the question is why they didn’t inform me about it if it started last September. So they waited few months to inform me that my account’s messed up. They are asking me to pay a penalty for each bounced check and what is shocking is that the amounts are almost the same as the amount that I am paying. I was able to obtain a copy of my deposits from UCPB. One of their “collections agent” came to ask for my payment again and he took the copy of my receipt. After a week another “collections agent” dropped by and I told that agent (JAY) everything so he called Joy (whoever that evil woman is) and she confirmed that my account is updated. Jay “collections agent” even apologized to me about what happened. Now I thought that everything is okay so I started paying again. But then they called me stating again that I am not paying. I called their collections agency (Annapolis) and asked for Joy. I asked for the issue and explained everything again (to think that she’s the one who confirmed that everything is updated). To my surprise instead of explaining everything she said she didn’t received anything and she’s saying foul words to me. She even told me not to bother calling them and they will just forward my account to legal department.
                One thing is clear to me all they want is money. Applying for a loan in Global Dominion is the biggest mistake that I have made in my life. I hope that they treat their customers well and care for their customers and not just their money. For those who work in Annapolis collections agency I hope they find a decent job that will not require them to be rude. And to Joy (whoever you are) I hope you will learn how to be professional. I am not surprised that you are accepted in that company because you are a rude person. I don’t even know if you know how to work professionally.