If you decided to stop paying your credit card, and have been receiving calls regularly, chances are your record has been passed on to a credit card debt collector. From what I know, banks would turn over (or sell) your record to a third-party collector after a month.

If you happen to be reading this and your latest due date has not passed one month yet, save yourself some trouble by contacting your bank immediately and ask for a remedial or amnesty. You could be very honest about your financial status and be ready to negotiate nicely. This option is so much better than receiving endless calls and letters with threats later on.
In my case, I avoided these debt collectors for six years. I was only renting so changing an address was easy. I also got a new mobile number although I did not deactivate the old one which every now and then receives calls from unknown numbers. Of course, I never answered.

In September 2016, upon the suggestion of BPI where I applied for a home loan, I contacted HSBC. This was a last resort as BPI nor any other bank, will not consider my loan application unless I submit a clearance. I was so hesitant that it actually took my agents months to convince me to do it.



I went through my old emails and found my credit card number. I then called their hotline and upon giving them my information, I was transferred to their Recovery Department. Basically, I stated my case and expressed my willingness to settle. It was not as difficult as I thought, no lawyers, no subpoenas, no court orders! Don’t believe the credit card debt collectors. Here’s what happened during and after the call:

  • The Credit Risk Management representative whom I spoke with was very nice. During the call I learned that my total balance including interests that have accumulated in the past six years is now at Php120,000+.
  • I said I don’t have that much money and asked if we could deduct all the interest.
  • She came up with Php35,000. I couldn’t remember my exact total balance from six years ago, it must have been around Php25,000 (without interest) so I was okay with the offer. I thought it was fair and reasonable for a 6-year old debt.
  • I agreed to meet up with the representative at the lobby of HSBC in Taguig, near St. Luke’s. We went straight to the deposit machine and she had me fill-out the deposit slip myself. We deposited the money and I kept the receipt from the machine. She then asked me to sign the clearance and handed me my copy. I checked all the details and confirmed everything to be correct. I went on and took several pictures of the clearance to make sure I have soft copies.

What a relief!It was quite an experience, literally liberating. I will no longer be afraid to answer calls from unknown numbers. I can now change my Jobstreet and LinkedIn profile settings to “public”. Most of all, I can now continue with my home loan application with BPI!

If you have the same problem, and don’t want to settle with rude credit card debt collectors, call your bank. Be nice.

33 thoughts on “How to Get a Bank Clearance for your Credit Card”

  1. Hi sir, would you mine sending me the name of vice president of recoveries? I think my certificate of full payment is fake. They we’re sent to me by the collection agency and its bear a different signature. Thank you

    1. Is this for HSBC? If yes, you can contact them at 976-7100 to verify. You can also request for a certificate directly from them. They should be able to check if the payment has actually been made through the debt collecting agency.

  2. Hi I have a Metrobank cc since 2016 and was endorsed to debt colectors wd balance of 91k to include d services etc. But amnesty payment is only 50k to b paid for 12 mos. I was wondering, urs is 120k for 6yrs and only paid 35k. Maybe f I go to metrobank, I cud possibly get lower than 50 bcoz I only have it for less than a year. Is dat possible?

    1. Hi Megs,

      Yes, you can try calling your bank and know your options. I couldn’t assure you that they will offer something that’s similar to what HSBC gave me, but it won’t hurt to try. Besides, I’d rather be paying the bank directly than the debt collectors, if I were you.

      1. Hi,

        Me too, I just settled my 2 year outstanding credit card balance in eastwest.
        My outstanding balance is around 68,000 but they offered me only 12,800.
        Its better to settle directly with the bank than from the collections agencies.

  3. gd pm, today i recently called 2 telephone numbers for the HSBC recovery team to request a soft copy of my certification of full payment. The payment was made april or may 2012, but nobody answers the call. the numbers are (02) 5818346 and 5817843. I need a copy of certification for my new application of credit card. Can you help me to get another number or may be a cellphone number for reliable communication. thank you.

    1. Hi! I have the same problem with you nobody answers my call to the telephone nos they have given. Have you already talked to them?

  4. Hi! I would like to know how long did it take you to get your certificate? Starting from calling to negotiate? Did it only take a day? Or more?

    1. Hi Krissy,

      Kaliwaan po. Kung klan ka makakabayad, dun ibibigay ung certificate. If you can accomplish and settle everything within the day, pwede naman.

      1. hi do you have an email add of hsbc collectio department. i already paid in full my debts last 2010 but i didnt received the certificate of full payment. thank you

  5. hi good morning, I am one of your customer before & I already settled all my account. Can I ask a Certificate of Full Payment for the reason that I will use the document as soon as possible. here is my email add .

    thank you so much & God bless.

  6. Good Day Sir, I’m in the same situation right now and will settle with HSBC Philippines, can you give me the contact details of the person who assist you.
    Thank you very much.

    Regards.
    Alex

  7. How long will it take me to apply for another credit card or apply for a personal loan after paying a full payment in my credit card?

  8. I have a credit card back 2009 and avail the amnesty of their 3rd party collection agent, unfortunately i lost the certificate give to me back 10 yrs ago. I tried to contact the collection company but cannot be reach anymore. Where can i get another copy of my Certification?

    Thanks

      1. The bank is HSBC ive been contacting the recovery team no answer at all. I already emailed them but up to now no reply

  9. Hi Sir,

    Mine is a recent case, my outstanding balance was only 3,400 that mount up to 10,560 now after calling BDO. This is purely just a missed, but I’m very much willing to settle this immediately. Which particular department can I reach out to get a cretificate of full payment?

  10. Hi, I have contract From EWB for restructuring my card account with 32k from os balance of 22k. May form po sila na nakaindicate ang other cards/loan details. Okay lang po ba na di ko na lang ilagay? At possible din po ba na makita nila na may other loan ako from other banks if di ko po ilagay yun sa form? Thank you po.

  11. Hi. I am currently applying for IDRP. I have 5 credit cards and all of them accumulated a huge debt over the last year. I am very nervous but I am hoping I can pay off all my debt in the next 5 years (or longer). If my application is with CCAP IDRP and not with just one bank, do u think I can still negotiate lower payments? Lumaki kasi ang balances ko for each card because of interest rates over the last year, installments and also because I was only paying off minimum amounts for each card – which is really not wise. Looking for guidance)advice.
    -Dons

    1. I’m not sure kung pano process for IDRP but it looks like the negotiation will be coursed through them. I’m assuming it will not be as low as when you connect directly with your banks, but if they can help you settle your debts then I think it’s a good option. You can find some info here if you haven’t read this yet: http://www.ccap.net.ph/?p=623

  12. Hi. Today I received this message from Debt collector maybe.
    Attn: Ms. Sheena *********
    Re: BDO VISA CLASSIC ACCOUNT

    Your last payment posted was last January 27, 2019 amounting Php2,021.00 nothing follows and despite repeated demand for payment on the said account it remains unpaid, we already gave you ample time to arranged this matter but no response from you. Hence, we are giving you 2 days from today to settle your VISA CLASSIC account in Full amounting PHP111,161.93 at any Bdo Branches. Otherwise, we will pursue a legal action against you under Republic Act Rule 3 Section 4 wherein your spouse will be included as mandatory party Dependant in Civil Case if case filed against you. Hoping your positive response regarding this matter. For inquiries you may call at 8240-9678 and look for Ms. Grace Neric to assist you.

    Thank you
    Alexis Molaer law offices

    -Im so scared right now. I can’t pay them because I am still unemployed. I already explained it to 3 of their agents but they keep calling me as in everyday.
    What will I do? Can you please help me. My total bill was 75k but due to interest and attorney’s fee it became 111k.
    Im still trying to find a new job so that I can pay them but they keep messaging me.

  13. Hello. I have a problem. Recently I got a HIT from NBI. I dont know yet what could be that HIT.

    Last 2016 i stopped paying may METROBANK credit card and my Smart Postpaid Plan. Is that possible that it will appear on my NBI ?

    Thank you

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