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Tax declaration cancelled

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26 Re: Tax declaration cancelled on Fri Dec 11, 2015 6:28 pm

michael113977


Arresto Menor
Yup its already 5years since the last letter.. and the problem we dont know were to ask since the bank is already closed since 2011 and the Pdic dont have our info

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27 Re: Tax declaration cancelled on Fri Dec 11, 2015 6:43 pm

Lunkan


Reclusion Perpetua
michael113977 wrote:Yup its already 5years since the last letter.. and the problem we dont know were to ask since the bank is already closed since 2011 and the Pdic dont have our info
Oh. That explain much Smile Good chance that's a very good for you.
If no one have BOUGHT that demand from the closed bank, then there are no one who can demand money from you Smile (Except if it was a suboffice to the headquarter, Then the HQ have that claim still. But if it was a separate landbank or a franshise, which has quit, then there are no legal unit owning the loan claim if it wasn't sold before the bank was closed.)

I would just sell it and buy a (huge) nice land away from the town. Your family can do much for 11 900 000 pesos... Smile
For instance you can invest them in a forestry investment business I plan to start haha (joke) (But it isn't a joke forestry investment business is among the business ideas I chose between when planning what to start.)

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28 Re: Tax declaration cancelled on Fri Dec 11, 2015 7:30 pm

michael113977


Arresto Menor
Hahaha good idea.. by the way the bank was a rural and from what i heard it was a one man team hahaha.. so the only problem left for us if the bank sold it to another before they closed.. but when my mother asked for the tax declaration and other documents it showed that the owner was still my father and on the middle page were it says OWNER it says same owner.

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29 Re: Tax declaration cancelled on Fri Dec 11, 2015 7:39 pm

Lunkan


Reclusion Perpetua
Seem good. That's perhaps an advantage borrowing from a small bank which crash haha

No notes it's pawned in official register?
Seem you just can sell it Smile

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30 Re: Tax declaration cancelled on Fri Dec 11, 2015 7:44 pm

michael113977


Arresto Menor
Actually it has on the back end. Which has the name on the bank on it.. with the value of how much it was pawned then nothing follows

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31 Re: Tax declaration cancelled on Fri Dec 11, 2015 7:51 pm

Lunkan


Reclusion Perpetua
michael113977 wrote:Actually it has on the back end. Which has the name on the bank on it.. with the value of how much it was pawned then nothing follows
Oh. Loans need to be paid the get selling approved. That's hard if the lender don't excist Laughing I don't know what happen then. Do you know how to find the old bank owner if necesary?

Is the loan amount plus interest at interest too year by year much?

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32 Re: Tax declaration cancelled on Fri Dec 11, 2015 7:55 pm

michael113977


Arresto Menor
The amount listed there was still the amount when it was pawned.. so i guess thats why the assessor was asking to call PDIC because at the back end it says pawned to(name of the bank)... so we just need to look for the owner of the bank? Or is there any back door were we can just fix these hehehe

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33 Re: Tax declaration cancelled on Fri Dec 11, 2015 7:58 pm

michael113977


Arresto Menor
But what if the owner died or abroad? I thought that bank that closed are usually shouldered by PDIC..

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34 Re: Tax declaration cancelled on Fri Dec 11, 2015 8:58 pm

Lunkan


Reclusion Perpetua
I don't know if the selling can be approved if the lender can't be found. The bank don't excist so its hard to find that haha

Well. PDIC shoulder money to people who have money IN the bank, if the bank go BANKRUPRCY. Do you know if it went bankruptcy or just likvidated volontaringly ?
If bankruptcy logicaly PDIC got the claim at you too. so it's some odd PDIC don't know (except if the claim was sold to someone BEFORE the bank closed.)
If just closed, then logicaly the claim belong to old owner.

How high is the interest percentage? Per year?

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35 Re: Tax declaration cancelled on Fri Dec 11, 2015 9:00 pm

michael113977


Arresto Menor
Its at 20,000 annualy

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36 Re: Tax declaration cancelled on Fri Dec 11, 2015 9:04 pm

michael113977


Arresto Menor
We loan it at 2008. But we were able to pay interest until 2010. I think we need to go to PDIC to make sure hehe

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37 Re: Tax declaration cancelled on Fri Dec 11, 2015 9:29 pm

Lunkan


Reclusion Perpetua
Well. What's the PERCENT?
When the interest isn't paid in time, then I suppouse the deal say it will be interest at the interest too.

Anyway - If selling it for 12 milliion, you can afford worst case interest too   Smile

--
Yes perhaps a selling can be approved by a document from PDIC

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38 Re: Tax declaration cancelled on Fri Dec 11, 2015 9:32 pm

michael113977


Arresto Menor
Ohh i see i understand by interest at the interest now.. well i guess that would be our last resort to sell it then tsk tsk..

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39 Re: Tax declaration cancelled on Fri Dec 11, 2015 9:46 pm

Lunkan


Reclusion Perpetua
michael113977 wrote:Ohh i see i understand by interest at the interest now.. well i guess that would be our last resort to sell it then tsk tsk..
Well. It can be a part of a sell deal, the buyer will pay the dept, and deduct that from the sell price, so it can be solved without you need to have cash to pay it before it's sold.

But your family is responcible for it will be paid.

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40 Re: Tax declaration cancelled on Fri Dec 11, 2015 10:37 pm

michael113977


Arresto Menor
Yeah that would probably be the best way to do it.. but will probably check out the status first of the property by next week. Then we could perhaps come up with a decision by then.. ohh and thank you so much for giving me an advise about this i really appreciate that you gave me your time to help me out.. i'll keep you posted on whatever the outcome will be.

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41 Re: Tax declaration cancelled on Fri Dec 11, 2015 10:55 pm

Lunkan


Reclusion Perpetua
You are welcome.

((I have time left sometimes, because I wait at an injury will heal, before I can go and make compleeting research in place before I decide where to settle and which business idea to start. Perhaps forestry Smile

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42 Re: Tax declaration cancelled on Fri Dec 11, 2015 10:58 pm

michael113977


Arresto Menor
Hahah sounds good. I once lived in palawan for 2years.. nice place they have there.. probably thats were i'll be going if i retire heheh

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43 Re: Tax declaration cancelled on Fri Dec 11, 2015 10:59 pm

michael113977


Arresto Menor
I'm sorry but what happened to you or your injury?

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44 Re: Tax declaration cancelled on Fri Dec 11, 2015 11:09 pm

Lunkan


Reclusion Perpetua
To much sports. Elite sports aren't healthy Smile

I message you because we are don't talking about property Smile

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45 Re: Tax declaration cancelled on Sat Dec 12, 2015 9:51 am

betchay001


Prision Mayor
Hello, I'm pretty sure you know what to do now. I'd just like to clarify that if the assessed value is P11,170, the RPT (Real Property Tax) is 2%, hence P4,700 went to penalties/surcharges (especially if taxes weren't paid for a period of time.

Go do a field inspection, mag field trip muna kayong magpamilya, get the title number from the Tax Dec and order a Cerified True Copy of the title from the Registry of Deeds so you'll know the transactions done. Best of luck.

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46 Re: Tax declaration cancelled on Tue Jan 05, 2016 4:23 pm

mommyIT


Arresto Menor
michael113977 wrote:We loan it at 2008. But we were able to pay interest until 2010. I think we need to go to PDIC to make sure hehe

You should check with Bangko Sentral - all Banks that was closed has been absorbed by them. I know because we have the same issue (bank where my parent's made the house and lot a collateral- closed) - We received a letter from them after 5-7 years telling us about the loan.We got a deal (not paying for 5-7 years) from 300K loan it ballooned to almost 1.5M but the bank removed all the interest and we are now paying for 2years (quarterly).

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47 Re: Tax declaration cancelled Today at 9:27 pm

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