Credit you may owe

[stevewool]

First of all I am not sure where this should have gone,so if it's in the wrong place please move it,

My wife told me the other day that many years ago around 16 years ago she had a credit card, herself and her two sisters used it,

Well it seems there was around 30000 peso on this card in her name but as usual the rest of the sisters used it and nobody paid this, so what happens now

Will they come looking for her once we move there or after all this time will it be closed, its very hard to find more information from Ems, so that's why I have asked on here 

 

[Hey Steve]

Steve, I'm not sure if there is a statute of limitations in the Philippines (in most cases in the US it's 7 years). Being so long ago that this may be long forgotten (or shelved). If she attempts to use credit once she returns it may trigger reactivation of a dormant account.Personally I would not inquire with the card company as this also could trigger reactivation.

[robert k]

43 minutes ago, stevewool said:

First of all I am not sure where this should have gone,so if it's in the wrong place please move it,

My wife told me the other day that many years ago around 16 years ago she had a credit card, herself and her two sisters used it,

Well it seems there was around 30000 peso on this card in her name but as usual the rest of the sisters used it and nobody paid this, so what happens now

Will they come looking for her once we move there or after all this time will it be closed, its very hard to find more information from Ems, so that's why I have asked on here 

 

My biggest worry would be that there were no statute of limitations and this 30k debt has been accruing compounding interest for 16 years. I would let sleeping dogs lie until I got competent legal advise.

[usa32]

I didn't know there was "credit" in the Philippines through semi normal methods.

[Nephi]

5 hours ago, Hey Steve said:

Steve, I'm not sure if there is a statute of limitations in the Philippines (in most cases in the US it's 7 years). Being so long ago that this may be long forgotten (or shelved). If she attempts to use credit once she returns it may trigger reactivation of a dormant account.Personally I would not inquire with the card company as this also could trigger reactivation.

Exactly right. I'm wondering though if a credit check could be done on her from the UK. If the credit check shows clear that that "should"indicate there is no problem here.

 

Nephi

[scott h]

10 hours ago, stevewool said:

so what happens now

Chances are by this time the bank is defunct Steve.

9 hours ago, robert k said:

I would let sleeping dogs lie

Where is my best post ever emote.............agree with the above

[Gator]

4 hours ago, Nephi said:

Exactly right. I'm wondering though if a credit check could be done on her from the UK. If the credit check shows clear that that "should"indicate there is no problem here.

 

Nephi

"Here" is not "there", lol. 

One thing I've learned is that "there" the rules are made up as they go along and they're always in their favor; rarely (if ever) are they in our or the consumer's favor. 

Even it doesn't show up on a credit report it doesn't necessarily mean you're in the clear. Typically banks sell the unpaid debt to a collection agency and then the bank writes it off. But applying for a credit card, or even sometimes another type of loan, can trigger the collection agency back into action on a dormant account. I know of this happening in the US and Germany a dozen or so years after the bank sold the debt. I don't know for certain if that would be the case "there", so obtaining competent legal advice would be a good idea - especially if she plans on financing anything. Otherwise I affirm what Robert K wisely suggested - "let sleeping dogs lie".

[Sander Martin]

Uk credit check shows only UK deps so its pointless. A friend of mine had big depts in Australia and then left for NZ and started takig more depts. The NZ credit register didnt show Aussi deps.

In any normal country a dept of 16yo is long gone, but hey this is The Phillipines, so i guess no1 can say for sure. Id say stay out of the bank the dept was from. Just to be safe.

Edited April 22, 2016 by Sander Martin

[Dave Hounddriver]

Just looking around the Internet I can see no usury law in Philippines and I can see no law that would negate a credit card debt except one about 10 years with no demand and no fraud.  So the only time she would stop being liable is if there was no fraud (and there was because the sisters used the account) and no one has asked for money for 10 years (as in they never sent anyone a statement which is unlikely that they would forget to do).

It would seem she could charge the sisters with fraud and be done with it or hide from the credit card company forever, but thats just an off the cuff opinion from some cursory searches.  See a lawyer if it is a major issue.

[chico2663]

if she has a different last name and the r.p. don't use socials then you should be fine. in usa they charge off and sell it for pennies on the dollar. then other creditor tries to collect. after 7 yrs they try to sell to another company and if u ever admit then it starts over. My brother co sign for his ex and she had card repoed. 10 years after her death they garnished his check. Texas and certain states won't allow it but alas ohio did.