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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 ?”
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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.
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)
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.
*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…
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?
Opppss… sorry guys… I meant to ask a question.