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unpaid loans and credit cards

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1 unpaid loans and credit cards on Fri Mar 18, 2011 1:10 pm

JCCS


Arresto Menor
Hi Atty,

I would like to ask regarding my unpaid credit cards. We have just transferred to a new residence but we still owned the old residence. Is it necessary to inform the bank regarding my new residence?

Hoping for your response..

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2 Re: unpaid loans and credit cards on Fri Mar 18, 2011 11:38 pm

attyLLL


moderator
i recommend that you let them know because failure to inform them of your new residence will raise the presumption that you intended to commit fraud.


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3 Re: unpaid loans and credit cards on Sat Mar 19, 2011 8:06 am

JCCS


Arresto Menor
Thank you Atty for the enlightenment. I'm afraid kasi that they pursue the case since the residence that we are occupying is newly approved housing loan of Pag-ibig. If in case they will pursue the case, is the property under mortgage included in the attachment of the writ of execution?

Thanks again.

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4 Re: unpaid loans and credit cards on Sat Mar 19, 2011 9:11 am

attyLLL


moderator
unfortunately, that is the risk you have to take. on the other hand, they can execute against your interest in the property, but they absorb the mortgage so i don't think they'll want that property.


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