Now, for each lapse payment, meron silang late payment charge na 1,500 pesos. Apart from that, each day that passes na overdue yung account ko, they would charge an additional 1% per day. In total, yung arrears ko amounts to 83,000 for December and this January...pero yung latest statement of account ko says that I now owe 98,000 pesos in arrears including the penalty of 1,500 and yung 1%/day.
Are all these penalties legal and binding. I did sign a contract with them when I got the loan thinkin I can pay it easily. Pero dahil nga po sa financial crisis that I am going through, medyo nade-delay ang payments ko.
Can I still ask this lending form to waive all penalties? Do not get me wrong, I am very willing to pay and I am still have the capacity to pay the lending firm. Its jsut that ang bigat sobra nung interest rates and penalties.
They are now threatening to sue me in court with the Estafa and Bouncing Check Law. Its just that I find it really unfair since I communicate with them regularly and I do show them that hindi ako nagtatago at magbabayad talaga ako. Malaki na rin po ang naibayad ko sa kanila.
Any response is deeply appreciated. I only want your expert opinion before I seek a lawyer, and if you know a good lawyer regarding these types of cases, mas maganda po.