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.
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?
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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.