I would say no. If you have not paid your overdue credit card bill and have been receiving demand letters from the credit card company, you actually don't have to sell your properties or pawn your jewelries. In the Philippines, no one has been imprisoned for not paying his / her credit card bills.
In 2010, total unpaid credit card bills in the Philippines has ballooned to nearly P6 billion and the credit card companies are having headaches on how to get these huge collectibles. So they sell the bill to law firms. And that's they reason why these lawyers (as they claim they are) harrass you into paying your bills.
But don't worry, if you really don't have money to pay your bills, you won't get imprisoned. You won't even get charged in court. But don't just relax. You have an obligation to fulfill. You've used up your credit card and you should pay for it.
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I have tried to settle my credit card debt amounting to 20,000 with unionbank and as part of the settlement they made me open a checking account so that I have to issue them post dated checks in the amount they specified. My question is am I liable for estafa because I failed to pay due to medical reasons?
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