My questions are:
1. can i file for bankruptcy? if yes, what are the consequences of doing such.
2. what should be the standard interest rate of individuals who are into lending. What is the allowable interest rate, under Philippine Law, when it comes to imposing interest rate.
I'm not running away form my obligations, I just need more time to come up with the money so i could pay them all. My total obligations already reached 700k due to incurred interest. What can you suggest/advise. I have no other source of income right now.
Please enlighten me. Thank you.