Community discussion · Composite borrower case
CIMB ₱47,664 Balance, ₱23,190 Offer—Take It?
A CIMB borrower reported a ₱47,664 outstanding balance. A collector then offered to settle it for ₱23,190. The borrower had already negotiated the quote down once—and wondered whether to push again.
According to the Reddit post, the loan started at ₱50,000. Three monthly payments of ₱4,948.44 had already been made when money became tight. The borrower estimated the remaining principal at about ₱38,700, while the total balance including charges was ₱47,664. Those are the amounts the poster supplied; BorrowTalk has not checked a bank ledger.
The poster said a third-party collector identified as SP Madrid Law first offered a ₱30,190 full settlement. After a discussion, the quoted amount fell to ₱23,190. But the borrower still had questions: Is this already the best offer? Will the payment actually close the account? When would a certificate of full payment arrive?
Five Reddit users replied. Some compared the offer with their own experience; one simply asked how long the account had been overdue. Their remarks are condensed, and none was posted on BorrowTalk.
Thought ₱23,190 sounded like a good offer. This person was still waiting for a settlement offer on their own account, so they weren't confirming CIMB's process.
Urged the borrower to negotiate again because the amount might go lower. They didn't provide a confirmed CIMB settlement outcome.
Said a collector may be less willing to reduce a number after approving the borrower's counteroffer. They shared experience settling other card accounts and discussing certificate release—but explicitly said they had no CIMB-specific experience.
Had a different experience with a CIMB account handled by another collector. According to this commenter, an offer to pay ₱30,000 was rejected and a balance of about ₱48,000 was reduced only to about ₱45,000. One person's quoted discount clearly wasn't everyone else's.
Asked the question the original post hadn't answered: how many months overdue was the account before the offer arrived? The thread didn't establish a standard timetable.
The poster hadn't said they'd accepted or paid the ₱23,190. There was also no posted bank confirmation that this offer would wipe out the whole obligation, or a certificate showing the account was closed.
Before transferring ₱23,190, the borrower would still need something concrete: who can receive it, which balance it settles, whether any amount remains, and how CIMB will acknowledge closure. The thread has opinions about the discount. It doesn't have that written confirmation.
Source: Reddit r/utangPH
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