{"id":78914,"date":"2021-06-01T11:08:46","date_gmt":"2021-06-01T03:08:46","guid":{"rendered":"https:\/\/mycitihomes.com.ph\/?post_type=guide&#038;p=78914"},"modified":"2021-06-01T11:09:03","modified_gmt":"2021-06-01T03:09:03","slug":"cancellation-of-accounts-due-to-default-or-non-payment-of-monthly-amortization","status":"publish","type":"guide","link":"https:\/\/www.cbdi.com.ph\/staging\/guide\/cancellation-of-accounts-due-to-default-or-non-payment-of-monthly-amortization\/","title":{"rendered":"Cancellation of accounts due to default or non-payment of monthly amortization"},"content":{"rendered":"\n<div class=\"guides__title-container\">\n                                    <div class=\"guides__title-content\">\n                                         <p>If the client fails to pay the monthly amortization of the unit purchased, the Credit and Collection Department issues a demand letter to the client. If the account remains unsettled after the deadline stated in the demand letter, it will be endorsed to the Legal Department. Legal will then issue the Notice of Cancellation for actual cancellation of the account.<\/p><p>Below are the guidelines for default accounts:<\/p><dl><dd><table width=\"537\" cellspacing=\"0\" cellpadding=\"7\"><tbody><tr valign=\"top\"><td width=\"238\"><p><b>Accounts with Demand Letter issued<\/b><\/p><\/td><td width=\"268\"><p>Client may be allowed to restructure and update account during the grace period.<\/p><\/td><\/tr><tr valign=\"top\"><td width=\"238\"><p><b>Account endorsed to the Legal Department<\/b><\/p><\/td><td width=\"268\"><p>Maceda Law is applied.<\/p><\/td><\/tr><tr valign=\"top\"><td width=\"238\"><p><b>Accounts cancelled by the Legal Department<\/b><\/p><\/td><td width=\"268\"><p>No reinstatement<\/p><p>Client may be allowed to purchase again (new sale) after <br>one year from cancellation.<\/p><\/td><\/tr><\/tbody><\/table><\/dd><\/dl>                                       \n                                    <\/div>\n                                 <\/div>\n","protected":false},"menu_order":0,"template":"template-fullwidth.php","categories":[42],"class_list":["post-78914","guide","type-guide","status-publish","hentry","category-buyers-guide"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cancellation of accounts due to default or non-payment of monthly amortization - CBDI<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cancellation of accounts due to default or non-payment of monthly amortization - CBDI\" \/>\n<meta property=\"og:description\" content=\"If the client fails to pay the monthly amortization of the unit purchased, the Credit and Collection Department issues a demand letter to the client. 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