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Running from debt

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1 Running from debt on Sun Feb 05, 2012 7:05 pm

devilfisch


Arresto Menor
Good day. I would like to ask for advise on a certain situation that my father is currently in.

I work with my father abroad (Saudi Arabia) and we have one colleague that owes a huge amount of money from my dad. My father lends cash for a small amount of profit although he does not ask for such from him. He borrowed money from my father with the premise that he will use it to pay for other debts that have been piling up. Honestly, I wouldn't have bothered if he tried to borrow the amount from me but my father is usually too kind.

Not paying debts is a criminal offence here although lending cash with interest is also not allowed therefore filing a case against him here could be counter-intuitive - he does not need to pay interest to pay for his debt but he may use it against my father which is a risk I don't want my father to take.

The person involved has recently resigned and is heading back to the Philippines soon. Although he has mentioned to us that he's coming back on March and would settle his debt by then, he has been very difficult to contact lately which seem to indicate that he plans to run away from his debt.

I'm not sure if there is a written agreement although there are many witnesses (and other "debt victims") against him. Would it be possible to file a criminal case against him in the Philippines? Or is this a lost cause?

I really want to help my father around this predicament but I have very little knowledge about legal stuff so any input would be very much appreciated. Thank you for your time.

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2 Re: Running from debt on Sat Feb 11, 2012 3:29 pm

attyLLL


moderator
any written acknowledgment of the loan? you can send demand letter here and file a collection case?


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