Struggling to pay off your credit card debt? Apply for an amnesty under Interbank Debt Relief Program
One of my most read article here in the blog is about the THINGS I DID TO SETTLE MY CREDIT CARD BILLS.
The other day, one reader mentioned about the credit card amnesty program also known as debt restructuring program under Bangko Sentral ng Pilipinas, member-banks of the Credit Card Association of the Philippines (CCAP), and BDO Unibank, Inc. called the Interbank Debt Relief Program (IDRP) to help delinquent credit cardholders settle their overdue accounts.
Since it was almost a decade since I cut and stopped using my credit cards, I am not updated on what’s the latest program on how to settle delinquent accounts anymore. I’m thankful to this reader for pointing this out, nadagdagan ang kaalaman ko (which of course I’m happy to share with you).

First of all, you might ask what is Interbank Debt Relief Program (IDRP)? According to Moneymax, the IDRP is a repayment plan that consolidates and restructures a person’s credit card debts. This credit card amnesty program in the Philippines offers more affordable monthly amortizations with lower interest rates, longer repayment terms, and a more convenient way to pay off credit card bills. It won’t ruin a cardholder’s credit history, according to the CCAP.
What’s nice with this program is that they provide:
- Low interest rates ranging from 0% to 1.5%
- Long repayment terms ranging from 12 to 16 months (Extended up to 10 years for extreme cases of credit card debt)
- Same interest rates and repayments terms applied to all unpaid credit card accounts
To know if you are qualified, here
are the requirements:
(info via: www.ccap.net.ph)
- Customer should have at least 1 credit card from 2 participating banks
- Credit card accounts must be at least 6 months old with an outstanding balance of at least P10,000 per Card and with total combined obligations of at least P100,000 with all Card Issuers.
- Customer is not allowed to apply on a selective basis. Applicant should declare all Credit Card outstanding balances. Validation will be done through credit bureau information and / or confirmation from CCAP member banks.
- Customer may be required to submit proof of financial distress or an indication of card payment difficulty.
- Combined age of the customer and end of tenor of the restructured accounts must not be more than 65 years. Otherwise, a co-maker/guarantor is required. A co-maker is also mandatory if customer has no source of income or if the current income is not sufficient to cover the monthly amortization of the restructured accounts. Financial status of the co-maker/guarantor will also be assessed.
- The Banks have an option to disapprove application due to moral hazard and if customer has shown abuse and irresponsible usage of Credit Cards. Nature and types of transactions will be reviewed.
- Banks may disapprove the application if there were purchases on the card of luxury items, showing extensive travel and/or gambling related.
- Customer has not previously applied for the same program in the last 6 months.
- Customer has not filed legal actions such as Petition for Insolvency or Rehabilitation
- Foreigners are excluded from the Program. Citizenship and residency of the applicant will be evaluated.
What are the requirements to avail this program?
- A completely filled-up application form
- Statement of income and expenses
- ITR or last 3 months payslip or COE (if employed), latest ITR or audited FS (for self-employed). If applicant has no source of income, he/she will need to find a co-maker who can help him/her pay for the amortization on a monthly basis. The co-maker will also need to sign an agreement.
- Proof of other source of income
- IDRP Payment Agreement Contract including Terms & Conditions signed by you and your co-maker, as applicable.
- Debtor’s Consent Form, Promissory Note, or Post Dated Checks
- One valid government ID including that if the Co-Maker if required.
Banks That Provide Credit Card Amnesty in the Philippines
- Asia United Bank
- Bank of Commerce
- Bank of the Philippine Islands
- BDO Unibank, Inc.
- China Banking Corporation
- East West Banking Corporation
- Equicom Savings Bank
- Hongkong and Shanghai Banking Corporation Ltd.
- Citibank, N.A. Philippine Branch
- Maybank Philippines, Inc.
- Metrobank Card Corporation
- Philippine National Bank
- RCBC Bankard
- SB Cards Corporation
- Standard Chartered Bank
- UnionBank of the Philippines
How can you apply for the program?
- Just contact any bank (those listed above) where you have a Credit Card account to apply. The Bank with the highest combined eligible outstanding balance for IDRP will act as the Lead Bank and will contact the Customer to discuss the arrangement and process the application for review and approval. Approval requires compliance to the guidelines and conditions of the IDRP and submission of necessary documents.
NOTE: Please keep in mind that once you are approved, you cannot miss any monthly amortization because your amnesty program will be void/null/cancelled. Yes kahit isang month lang ma miss mo, wala na yung program. Sayang!
If you are reading this, I know you are trying to settle your obligations and clear your name, I want to say CONGRATULATIONS! for starting to do something by looking for a solution to your current situation.
Trying to have a debt free life is hard, but believe me, I’ve been there and once you clear them all, life will be easier and more beautiful.
I can’t wait for you to say “Finally, I am DEBT FREE!”
Takot ako sa credit card kaya hinding hindi ako magaavail niyan.
Buti nalang wla ako kakayahang kumuha Ng credit card momshie Kung nagkataon di ko na talaga alam Ang gagawen ko momshie 😊
Im happy to see this blog. Any advise po pano ko simulan iclear cc debts ko?
Unang una po, wala po ako work since May 2019. Asa lang po sa binigay ng husband ko na 5K kada sahod. May 2 anak po kami.
Dapat po ba mag email na agad ako sa bank na mag apply ako for amnesty or restructure program nila kahit wala pa kasiguruhan san ako kukuha ng pambayad?
Gabi gabi yan po inaalala ko. Minsan naiisip ko po magpakamatay. Kasi di ko po alam san dadampot ng pera. Please I need help po.
you need to check your capacity to pay po muna. If tingin mo kaya mong magbigay ng 500 or 1000 per month sa kanila hanggang matapos, yan ang pwede mo ioffer. Mahirap kasi makipag deal tapos wala ka naman pala pambayad, masisira trust nila sayo lalo.
Hi Mommy Levy,
Frankly, this is my problem and I want to apply for an amnesty to pay my credit card bills (reconstructed in a longer period of time). I had to hold unto my cash (every penny) for my mother’s hospitalization kasi hindi nman tatanggap ng credit card ang hospital. 2019 was a tough year for my family — having continuous medical issues. Much as I want to settle my accounts, but my priority is my mother’s life. I emailed RCBC Bankard customer service for my intent to apply for an amnesty but todate have not received any concrete reply from them. I have been receiving demand letters and text messages from some collection groups and this gives me torture. I am a senior citizen, 62 years old and working as part-time consultant in a construction firm. I am also feeding my grandchildren as they live with me. I know this is such a personal sentiment, but will you please guide me in my intention to apply for amnesty. I have RCBC & Citibank card — emailed both of them for my interest in availing the amnesty program. Please help me. Thank you and I can only thank God that there is someone like you who can help anyone with this kind of financial problem.
Did you email the collection agency kung saan galing ang demand letter? Kung nasa kanila na ang account mo, sa kanila ka na makikipag negotiate kasi.
Tanong lang, magkano ung amount ng IDRP mo tsaka magkano ang monthly at terms?
hello mommy levy,
actually not all banks offer amnesty program. I have read about articles on how to pay off cc bills. Currently, I have problem with my bdo cc, when I called them and apply for an amnesty, I was disappointed that they do not have restructuring program/amnesty program but they have promos like “balance convert”. However, bdo cs explained to me the process, with my current outstanding balance, I have to pay 80K++ as initial payment para ma-consider ako sa balance covert na ino-offer nila then I have to pay 50k++ monthly for 12 months. Parang ganun lang kadali yun, hindi naman pinupult lang ako pera. Kaya nga nabaon na sa utang sa cc kasi walang pambayad. Hay.
I had already write a formal letter of request for an amnesty and sent it to cs and ca email but no favorable reply as of now. They can not entertain my request unless hindi ko raw nababayaran yung minimum na umabot na sa 68k++. Ano po kaya maganda ko gawin? I have every intentions of paying my cc bills, kaya lang they are not helping.
Hi Peach, I am in the same boat. Kamusta na po yung application mo sa bdo for amnesty? Sa BDO din ako, hindi ko na talaga kaya bayaran monthly so nag-bballoon na yung interest. I hope you see this and reply back. I’m hoping nakahanap ka ng solution to the problem and sana mai-share mo how you did it. Thank you.
Hi, Mommy B.
Any luck sa amnesty?
naku po mommy tama ka jan pag my credit card mahirap magbayad lalo na pag walang stayble na trabaho katulad sa credit card namin ngayon monthly 125 binabayaran namin in 12 months nasa 1500 binabayaran namin na pwede pa sana pandagda g sa gagastusin dito sa bahay..Ang ka gandahan lang kasi ng credit card pwede mo siya magamit lalo na pag short kana sa budjet kami limit lang sa pag gamit nito at yung kaya lang namin bayaran sa isang buwan
Buti nalang mamsh. Wala akong credit card sakit sa ulo. Hehe. Pero ito.magandang program!
Masarap ang may credit card kung marunong mag hinay-hinay sa pagshopping. Kaya Ako mommy hindi ako nag try Na kumuha niyan. Marami kasi akong nababasa Na marami ang nababaon sa utang. Itong amnesty program, maganda po ito para mabayaran ang mga utang. And I want to congratulate you mommy, nabasa ko yung post mo regarding your credit card problem and how you manage to settle it.