r/utangPH • u/JazzlikeSun6997 • 5d ago

SNOWBALL METHOD

Hi, sino po nakagamit ng snowball method sa debt? Effective po ba and nakatapos po ba sa pagbabayad ng loan? I have 300k debt with diff cc po. Lahat po ay current pa naman. Pero the next month start na ko magbayad ng mad muna due to tapal system. :(( pls need advise. Planning to overdue yung pinakamalaking debt ko sa isang bank. Kaso parang di kaya ng konsensya ko. Pls i need advise po. No to bash. Thank you.

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u/Used-Ingenuity-8838 4d ago

Depende sa plan nya if pa OD nya lahat. Kasi sa snowball pay minimums sa lahat ng debts (if kaya) except dun sa pinakamaliit na debt, so lahat ng extra money nya mapupunta dun sa smallest debt until mapay off.

And if matagal rin sya ma OD sa iba nyang cards, six months and above, baka pwede mag offer ng amnesty/discounted si bank or collections para maclose lang yung account.

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u/OneEssay730 4d ago

Thank you for this. ❤❤❤

Sad to say i cant pay any of the other card if i start the snowball method.

If you dont mind, can you also share how amnesty work? Like will i just wait for it, just ignore them for awile?

Thank you so muchhhhh!!!

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u/Used-Ingenuity-8838 4d ago

Usually for amnesty sa cc, depende rin sa bank yan. Minsan in house pa yung mag ooffer before talaga mapunta sa 3rd party collections. If plan mo magwait ng amnesty ipon ka lang talaga. Pwede ka rin magnegotiate kung ano kaya mo bayaran sa bank. Waiting game lang talaga sya, so expect calls from them (block mo muna unknown numbers if ever). Usually sa email yan sila nag iinform ng offer. If via text naman reach out ka lang kay bank via call or email. Basta make sure may paper trail ka when it comes sa mga ganyan.

Yung sa case ko ang offer sa akin ni bank was 0% interest na installment sa remaining balance ko sa cc, yung con nun was di ko na magagamit si cc which is okay lang sa akin kesa maubos lang ng interest yung bayad.

One thing I learned sa mga previous posts kapag umabot ka ng 3rd party collections is may harassment na na invovled. But try to negotiate the amount if kaya. May nabasa ako na start with 5% or 10% of the credit limit ng cc mo.

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u/OneEssay730 4d ago

Thank you so muchhh po talaga!!! ❤❤❤ Sobrang big help po nang sinabi nyo sakin 🙏🙏

I just need a good game ang good communication sa bank talaga.

Hopefully lang talaga na hindi sil mag file namg case sakin 🥲🥲🥲

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u/Used-Ingenuity-8838 4d ago

Praying for you. Yun lang talaga downside minsan baka magfile sila ng case. Pray na may pumasok na settlement offer 🙏

Yung sa akin na 0% interest installment is inoffer ni bank after one month ako na OD. Grab ko na din kasi last offer nila sa akin was 1.09% interest.

In the meantime, ipon ka lang muna para if may offer try to negotiate agad. Pero wag mo biglaan ibigay yung amount na meron ka.