Feeling overwhelmed by credit card debt? You're not alone. There are millions more, with more debts than we do.
But here's the truth – the sky isn't falling, and we have more power than you realize.
🔵 Myth vs. Reality: Collection agencies may paint doomsday scenarios, but let's set the record straight. In the Philippines, being a credit card defaulter isn't a criminal offense. We won't be thrown in jail for unpaid debts. These are just scare tactics.
🔵 Knowledge is Your Shield: Understand your rights. Collection agencies can only harass us if you do not know and allow them to do so. Threats, intimidation, or any form of harassment are illegal, and yet they continue to use them because defaulters do not know. Dare their bluff and meet them in the barangay, in police station, and report them.
🔵 The Power of Truth: If we start believing the lies spun by unscrupulous collection agents, we give them power. The more we understand our rights and the legalities of debt, the less influence they have over us.
🔵 Take Control: Ignoring the problem won't make it disappear, but we have options. Talk to your creditor. Negotiate a realistic repayment plan. Seek financial counseling if needed. We have the ability to navigate through this. But make sure that our priority is to survive. If we do not have the capacity to settle, then Don't. Even with decided cases and with writ of execution and garnishment, if we have the money, then so be it. Why worry if you have decided civil cases? There are other millions in the same boat.
🔵 Stand United: Share your knowledge. The more people know the truth, the less power these myths hold. Together, we can create an environment of understanding and support, not fear and misinformation.
🔵 Remember: Your credit score can recover; your peace of mind is priceless. Don't let the fear of the worst overshadow your journey to financial freedom.
We're not just defaulters. We're are individual human beings with rights, options, and the power to change your situation. Don't let false fears dictate our lives and our future. Let us not allow the CA crooks take control. We take control of our situations.
In due time, we can recover.