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Salary Loan from a Lending Company

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1 Salary Loan from a Lending Company on Fri Nov 01, 2013 5:11 am


Arresto Menor
Hi Attorney! I would like to seek legal advice regarding my situation right now. A co-worker and I once avail a salary loan from a lending company. They took our payroll ATM and deduct payments on every cut-off. We served as our own co-maker. The company gave us 80k each, so that's 160k in total, to be paid in a years time. So that's 4k every cut-off for the each of us. everything was going well, then suddenly, our company got struck by the financial crisis and had to abolish our incentive program where we usually get the money to pay for our loan. To make the long story short, we weren't able to continue paying the loan due to our financial status. we have been getting calls saying that they'll file a case against us and will pursue this in court. recently, my colleague told me that they received a demand letter coming from a regional court, im not sure where because for some reason i have not received mine yet. I have read in the other posts that only a civil case can be filed against us and will not lead us to prison, but what i would like to know is what are the implications of a civil case? can it impede me from going abroad for a job? If i were able to go abroad, will they be able to pursue us outside the country? will it also appear in my NBI clearance as a hit? please help us we really need your advice.

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2 Re: Salary Loan from a Lending Company on Mon Nov 11, 2013 12:53 pm


Arresto Menor
someone please help me.. i really need some advice regarding this

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3 Re: Salary Loan from a Lending Company on Thu Jan 14, 2016 1:55 pm


Arresto Menor
Hi, what happened to your case? We have the same situation and recently I received a motion for execution

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4 Re: Salary Loan from a Lending Company on Thu Jan 14, 2016 5:31 pm


Prision Correccional
So as not to trouble you anymore, make an amicable settlement with the lending company, debts are always debts, and you should pay your debts. True you will not be imprisoned for none payment of debts, but the court will attach any property that you may have here in the phil. Lending companies, are akin to this kind of situations, and they do know what to do.

Settle with the company for the terms of payment, if the company will not agree, let the court decide. Beside our courts, are courts of justice and equity.

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