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Unpaid Cooperative Loan - Microfinance

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1 Unpaid Cooperative Loan - Microfinance on Sat Feb 02, 2013 2:03 pm

damselndistress


Arresto Menor
My mom had a loan from a local cooperative for about 5-6 years now. Until now hindi nmin mabayaran yung principal loan dahil may problem kami when it comes to financial aspects at patuloy rin ang pagbibigay ng interest.

They told us to reconstruct the loan but we'll have to pay them 90thousand for the reconstruction. Since hindi namin kaya yun my mom had made an arrangement to the coop na babayaran lng namin monthly with minimum 2000pesos hanggang matapos namin (meaning kng anong total yung lng ang babayaran at hindi na papatungan ng interest). They had agreed unto that pero nung last payment namin sinabihan kmi na kailangan nang magbayad nang full amount dahil masyado nang malaki ang babayaran, or else ipapa sheriff nila kmi or kukunin yung mga gamit sa bahay. Also, we don't have any copy nung contract for the 2000 arangement.

Can you advice kng anong pwede naming gawin? We already made arrangements pero patuloy parin yung paglaki ng babayaran dahil patuloy rin ang interest. Can they force us to get our properties?

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