I have a credit card debt of $11,000 I am due to return to the UK permanently soon, what happens if I dont pay ?

November 2, 2011 | By Fitz | Filed in: Loans, Debts & Credit Cards.



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5 Responses to “I have a credit card debt of $11,000 I am due to return to the UK permanently soon, what happens if I dont pay ?”

  1. erds518 says:

    The consiquence is reflected on the contract you signed before availing the credit card. (Eg. endless billing to your residential or work adress, the bank will contact you frequently< or worst they will get your collateral payment according to your contract)

  2. Fitz says:

    Aside from getting a damaged credit score, you will likewise have to deal with the consequences as stated on the contract you signed with the credit card company – as erds518 have said above.

  3. chaser015 says:

    *blocklisted from other credit card or loan company – so if you try to apply for sure dissapproved ka kasi they share information.

    *expect frequent calls at your home & office from credit collectors, they will send you a lot of mails and even subpoena.

    *di ka naman makukulong hehe…

  4. Eubon G. Gicain says:

    I just invested in BDO Dollar Money Market Fund but is not really familiar with UITF, My plan is to redeem periodically i.e. every 6 months or one year and deposit the gain (if any) to my savings account and reinvest back the capital amount.

    Is this a wise approach or would it be better just to leave the money in the fund and just redeem if the need arise?

  5. Eubon G. Gicain says:

    Opppss… sorry guys… I meant to ask a question.

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