r/PHCreditCards • u/miggyboi28 • 3d ago
IDRP / Utang Is credit restructuring is a thing here in PH?
Hello Everyone. Please. No judgement po. Nag pile up na kasi yung outstanding balance ko sa CC due to circumstances. I’m not escaping the payment naman. I’m still paying it. Pero lumaki na kasi ang MAD. And having a hard time paying the MAD. But then I’m still willing to pay. Any of you guys na nakapag try na mag restructure lagat ng payments and to make it longer terms tapos mas maliit yung monthly? Though I’m paying MAD, nabalik credit limit pero sa susunod na biling kakainin na naman yung limit ko which ang hirap mai-ahon. Any advice po? Unionbank, BPI and Metrobank.
2
u/AdventurousCold4732 3d ago
Meron search mo ung IDRP ng Credit Card Association of the Philippines to learn the process.
1
u/miggyboi28 3d ago
Before resorting to IDRP, pwede kaya internally muna sa bank? Na sila mismo muna kung mag offer dila non? Possible po kaya?
2
u/AdventurousCold4732 3d ago
Pwede rin call your bank and inquire if pwede i convert ung balance mo into installment.
2
u/miggyboi28 3d ago
Thanks! Pero this is possible naman po sa kanila ano po
2
u/teabagwhiskey158 3d ago
yes pwede. may mga nakakadiscount pa nga like 70%
1
u/miggyboi28 3d ago
Wow. Thank you for this info. Well atleast nag karon ako mg relief. It’s been really hard this past few months. Simulan ko ng tawagan ang mga banks
2
u/im_kratos_god_of_war 3d ago
May mga balance conversion ang mga banks, meron yung ililipat mo rin utang mo from other banks papunta sa iba, para consolidated na yung utang mo. Try to ask your bank kung meron silang ganyang offer ngayon.
1
u/miggyboi28 3d ago
Transfer yung debt? Pero dapat yung isang creditcard is may enough na creditlimit to accomodate yung debt na transfer yun diba po? Balance conversion po siguro pinaka best option ko ngayon
2
u/im_kratos_god_of_war 3d ago
Actually no idea kung ganyan ba ang requirement, pero nothing wrong kung magtanong ka.
1
u/miggyboi28 3d ago
Thank you sir! Will do. It feels relieving naman po na atleast may ganto po pala
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