Forum
Last updated: 

Failure to pay a debt in the credit card

My auntie accidentally used credit card thinking that it was a normal card. She was unable to pay her debt in the credit card and does not have enough money to pay. She was scared to be sued by the company of the credit card and was given a month to pay for everything. We are planning to compromise with the company where my auntie owes money.

User comments

  • user image

    No Name

    Failure in paying a credit card debt will result to garnishment. Since there is an unpaid debt, they will get the debt from other assets you have. An example is you lot or your house. They can getv your house and lot or maybe your car in order to suffice with what is left. They can just suddenly go to your house and remove all the things inside or even demolished the house.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

Lending my credit card

Can I use my credit card for my plastic surgery?

Why should I liquidate? What exactly does it do?

My credit card has been used by other person, what can I do to retrieve my money back?

What shpuld I do in case I accidentally damaged my credit card?

How do I block my credit card?

Related Reviews

Lowest rates for new and used car loans in Singapore

DBS charges interest rate of 2.28% for its car loans to individuals that apply online and that is the lowest rate offered for both new and used car loans in Singapore. In my opinion this makes DBS the most affordable option for those that require financing in order to purchase a vehicle. It is also worth noting that DBS is currently offering an even lower rate for the purchase of used cars (1.99% p.a.) in a promotion.

DBS Car Loan / DBS Bank

A no-no for individuals seeking the cheapest car loan

This car loan is a no-no for individuals seeking the cheapest car loan or borrowers seeking to refinance their existing car loan as interest rates of 2.78% and 2.98% don’t come cheap. Irrespective, UOB could be a good backup source of car financing for individuals that are not approved for loans from other banks. Additionally, the bank is unique because it offers flexible car loan repayment schemes and Certificate of Entitlement (COE) loans for used cars.

UOB Car Loan / United Overseas Bank

On both occasions the customer service has been phenominal

Even as it was my first time dealing with them the customer service staff were very friendly and helpful delivering on a fast and smooth transaction processing time. On my second time using them I was not disappointed too as I had a very pleasant transaction and would gladly recommend them to my friends and family. Trusted dealer!

Asia Carz Credit Car Loan / Asia Carz Credit

Islamic auto financing

Maybank charges a much higher interest rate of 3.25% for its car loans than other lenders in Singapore, making it a less affordable option however, borrowers that are unable to obtain a car loan from other banks may want to keep Maybank in mind as a an alternative to other lenders. It is also worth noting that Maybank offers Islamic auto financing, which may be of interest to prospective borrowers.

Maybank Car Loans Singapore / Maybank Singapore

Car loan calculator that allows for the calculation of monthly payments

The Standard Chartered car loan calculator allows for the calculation of monthly payments you’ll need to make if you take up a car loan. Simply indicate the car type, enter the required loan amount, loan term and click “Calculate”. You should remember to always consider if you’ll be financially comfortable to meet up payment for the projected monthly instalments while still meeting your basic needs before committing to a car purchase.

Standard Chartered Auto Financing / Standard Chartered Bank Singapore

Apply for a loan in just 3 minutes

What makes Auto Credit Express unique is that they have created one of the largest networks of auto dealers that specialize in financing auto loans for different types of credit profiles. You can get an auto loan for a new or used car by getting funding within a few days by applying for a loan in 3 minutes and enjoy phone support is fast and friendly

U Credit Car Loan / U Credit