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Short Term Compounding Interest Loan made on behalf of a friend

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dw2


Arresto Menor
Good Day po,

In behalf of a friend I made a Short Term Compounding Interest Loan of P10,000. in which she promised to pay within 2-3 days, She was able to make a payment of P5,820 on the 5th day, her remaining balance was P4180 which she promised within 2 days, but until 45 days later, malaki na yung tubo at ayaw na magbayad.

Details:
1) She(A) was the one to offer 30% daily interest, (dahil kailangang kailangan nya an pera that night)
2) I Signed an agreement on her(A) behalf sa kakilala(B) ko kinabukasan ng 10% compunding daily interest. to which I also notified my friend(A).
3) The agreement between me and my friend(A) is only verbal (dahil nga ilang araw lang niya kailangan)
4) The Remaining balance of P4180 ay tumutubo araw-araw ng 10% compounded.
5) I was constantly reminding her(A) na bayaran agad ang balance niya para hindi lumaki ang tubo.
6) Ang lagi nyang(A) sagot is wag kang mag-alala babayaran ko yan pero wala pa akong available na pera.
7) After 45 days of compounded interest, umabot na ng 300T+ ang interest.
Cool Sinisingil na ako ng inutangan ko(B) (in her(A) behalf).
9) Dahil mukhang malabong mabayaran nya(A) yung 300T+, humingi na ako ng tulong sa mga kaibigan(D,E,F) namin na may utang sa kanya(A) at pumayag na ilang properties nila(D,E,F) ang ibayad doon sa 300T+. (old rusted multicabs and motorcycles), Payag naman yung nag pautang(B).
10) Gusto sana nung mga tutulong(D,E,F) sa akin mabayaran yung 300T na ibawas ang value ng properties nila sa utang nila sa kaibigan(A) ko.
11) Biglang hindi pumayag yung kaibigan(A) ko na yung utang ng nila(D,E,F) an ibayad sa nagpautang(B).
12) Ako ngayon ang naiipit dahil ako ang sinisingil ni (B).
13) Aware ako na ako ang may pinirmahan sa nagpautang(B) at dapat ako ang legally liable sa utang na iyon.
14) Dahil sa Verbal Agreement naming ng friend(A) ko, alam ko na malabo na mahabol ko pa ito.
15) Ang utang nila (D,E,F) ay verbal din kay (A).
16) Kaya kong bayaran yung inutang ni (A).

Ngayon, Dahil mga kaibigan ko din sila (D,E,F) gusto ko sana na yung mga properties nila ay mapunta sa akin, na balak ko naman ibalik sa kanila as regalo, dahil hindi naman nila kayang bayaran si (A) ng cash. Ayaw na Pumayag ni (A) sa gusto kong mangyari.

Nag consulta si (A) sa isang lawyer dito sa amin at gustong kausapin yung inutangan ko (B), Ayaw ng nagpautang(B) na humarap doon sa lawyer ni (A) dahil(asar) ang transaction is between Me and (B) Which is correct.

Paano ko macoconvince yung lawyer ni (A) na pumayag sa gusto ko? Hindi na ako babayran ni (A) pero sa akin na magbabayad sina (D,E,F)?

Please help, Pasensya sa mahabang post

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attyLLL


moderator
your better alternative is to file a complaint in court for reduction of interest. 10k to 300k is clearly unconscionable and should be reduced accordingly


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