Fiancee has owes 200k on Credit Card. Help!!!

[Stanley Hermosill 1]

Certainly having ~4.5K USD debt on a credit card is not a big deal for anyone; fiance, uscis, etc. It's not insignificant, but I wouldn't worry about it.

[Lexlee08 18]

To have that much of a credit line from the Philippines she might either be a.) an executive that earns a lot of money or b.) somebody who has a very lucrative business. I worked in one of the biggest company back home and I was earning about $300/month(and back home that is a "comfortable income") and I only got approved for one credit card with a credit limit of $300(about php15,000 back then). Like I previously posted, FINANCIAL RESPONSIBILITY is a big deal for me personally. Not unless she has extenuating circumstances then it maybe excusable? It is always good to start a relationship with a clean slate especially if you (the OP) has clean/good finances. It is not your responsibility to pay it off not unless you don't really care about RESPONSIBILITY then go ahead and pay for it. I have read a lot of horror stories about "Americans/foreigners" that are being scammed or used for immigration and financial benefits, I hope you won't be one of them. There are a lot of bad people around so just be very careful. Use your brain and not your heart(well anatomically speaking the brain controls everything anyways!!!!: ) It will save you from a lot of problems later on.

[jrmejia 31]

Owing $200 000 on a credit card isn't much different than having a mortgage,

Hmmm weird comparison!!

[luckytxn 2,264]

To have that much of a credit line from the Philippines she might either be a.) an executive that earns a lot of money or b.) somebody who has a very lucrative business. I worked in one of the biggest company back home and I was earning about $300/month(and back home that is a "comfortable income") and I only got approved for one credit card with a credit limit of $300(about php15,000 back then). Like I previously posted, FINANCIAL RESPONSIBILITY is a big deal for me personally. Not unless she has extenuating circumstances then it maybe excusable? It is always good to start a relationship with a clean slate especially if you (the OP) has clean/good finances. It is not your responsibility to pay it off not unless you don't really care about RESPONSIBILITY then go ahead and pay for it. I have read a lot of horror stories about "Americans/foreigners" that are being scammed or used for immigration and financial benefits, I hope you won't be one of them. There are a lot of bad people around so just be very careful. Use your brain and not your heart(well anatomically speaking the brain controls everything anyways!!!!: ) It will save you from a lot of problems later on.

Exactly. The first thought I had when I read this was that she was a scammer and will be asking for money soon in order to be eligible to be able to leave the Phi and marry. Definitely would be asking for proof that there is a real credit card with that much owed. This story is an old one and many get scammed anyway.

[Tero 105]

OP, looking at this whole text battle from a positive perspective, it's all because we kinda care. K-1 visa might not require one being debt free, but if during the background checks, or maybe the local consulate background check (if they do that) they discover some kind of "lien" has been put on your fiancée for debt owed, then, you might worry then. The equivalent might not mean much in USD but may mean much in the pesos. Which ever way, just be prepared to pay it off if it is going to get in the way of her travel. Regardless of how people have responded to your case, we all wish you well.

[JlovesA 109]

Hmmm weird comparison!!

How so? A 200k debt (which I originally thought was $200 000 USD) is a 200k debt. The only thing that's different is how you're paying it off and what it bought you in the first place.

[Arvin8 1]

You mean owe, right? I wish my wife owned 200k (name the currency so long as it trades).

owes*

[militarygf 0]

While the debt may not directly affect your application; her clearances might be questioned. Php 200k is not a huge amount when converted to foreign currencies, but it is, here in the Philippines. Bank and financial institutions employ credit collection agencies and law firms, who in turn go to barangays, local police and NBI (depending on the amount) if they cannot collect payments after phone calls, visits and demand letters. She has several options to settle the amount, rather than risk the embarrassment and difficulties you might encounter later on. Best of luck!

[militarygf 0]

i will speak (or in this case, type) from a local's point of view. OP did not specify whether that Php200k is the principal or accumulated amount from her credit card obligations. Bank and other finance institutions here in PI use the compounded interest for loans. some credit card companies divide their plans to Special installment, regular and cash loans. Each type will have its own corresponding rate and amount limit. So for example, a credit card company can issue you card with a limit of Php50k in regular plan, 20k for installment, and another 20k for cash loan. failure to pay the minimum amount for each type will accrue interest charges per month, penalty fees and other fees; again the percent for these monthly fees are different. OP stated that his fiancee did not pay for 6 months; if the credit card company hired a collecting agency or a law firm already, the professional fees and other charges will be for her to shoulder as well.

Credit cards are issued practically w/o background checks, not just here in PI but in other countries as well. Heck, you can even get 1 from the account managers walking around the mall shoving their product right in front of your face, w/o explaining the responsibilities that come with it. Let us not be hasty in passing judgment. If the girl was not briefed of her responsibilities, i am pretty sure she isn't aware of her options in paying off the debt. To the OP, perhaps you can ask your fiancee if she had tried debt-transfer to another bank which offers a lower interest rate, or if she had talked to the bank manager for defer payments. if she opts for the latter, accrued interests can be lowered, and only an amount that she can faithfully pay for the terms compromised. Hope this clarifies a bit =)

[Jack&Maria 5]

Accdg. to the Philippine Constitution credit card debts is not a criminal law but it is a civil case.I never heard anyone getting a criminal record from the NBI because of debts..LOL

Civil case is like an annulment.When u have credit card debts or bank loans, the banks will hire commercial agents to call or collect the money from the unpaid clients..They can give you a summon but this is will take like six or seven months..if the case will be pass in the court, there will be no lawyers for both parties..bank and the client..

The court will ask you if you have money or properties to sell for the debt but if you dont have one, the court will advise the bank to make the client do the stagard payments.close will be dismissed and you dont have a record in NBI.

So even u have 500K PhP credit card debts, you will not be put in Jail or acquire an NBI criminal record.. NBI traces only offensive and criminal cases not civil cases!

[TBoneTX 45,285]

This thread is 2 years old, and the OP hasn't logged on to VJ since June 2011.

[Ontarkie 14,221]

Closing thread