I am being asked by a bank to pay Php400+K for a credit card issued by AIG. They said my last payment was in 2003. I moved residences several times and I'm not sure anymore if I notified the issuer or if I still have an outstanding balance with the credit card. But they were able to call me thru my mom's telephone number 2 weeks ago. This is the first time I received a call after all these years and I have not received a statement of account since 2003. It seems AIG no longer exists and has since been undertaken by this bank.
I asked for a detailed Statement of Account showing the charges and how the interest accrued over the years and the bank said it is not available since the account was only turned over to them from AIG. All they gave me was a current statement dated Sept 2010 with one line showing the lump sum amount of 400+K. I told them I cannot pay the amnesty amount of 140K that they are asking for since we have not recovered from financial difficulties. They said they have no recourse but to charge me in court with RA8484 Article 15 & Collection of Sum of Money.
Do they have a valid case against me if they cannot even show me a detailed statement of account? Why pay for an amount that I cannot verify? Do you advise that I pay?
1 Answer from Attorneys
The basis of the said RA 8484 is fraud. If you failed to inform the credit card company of your address they can file a case against you for violation of RA 8484.Yes you have to ask them about the details of the charges.