Question : are there any debt consolidation service companies in the philippines?
i've heard and read about this debt consolidation services online but havent found any in the philippines. anyone know if this is available here?
- asked by cricket
All Answers:
Answer #1
Not really; or if there are any, there are veryvery few as demand is not high compared to theUSIn the Philippines, there are no creditreporting bureaus. There are no credit scores.There's no credit history. Each creditors maintaintheir own data about the person, and there's noeasy mechanism to allow for credit historyinformation with other creditors.Unlike in the USwhere constant delays in payment in one creditcard may mean that the other credit cards mayincrease their rates on you or may not even giveyou new credit. Or if you have a poor credithistory, that can affect your chances of gettingan apartment, getting a car loan, a mortgage or insome cases, even a job.Without that kind oftrigger, people do not really feel compelled toconsolidate their debts; hence debt consolidationin the Philippines is not common
- answered by imisidro
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