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Unfair Lending rules

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1 Unfair Lending rules on Mon Sep 15, 2014 11:29 pm


Arresto Menor
Gudpm atty.,

I'm a public school teacher. I am having a financial crisis. An agent offered me a loan in this lending company far from our place where you surrender your ATM. we were promised to get P200,000.No rules were explained yet,just fill up forms and bring requirements.after 2wks the agent called us and rented a van going to that far place.We need to have 4 teacher co-makers each so we can avail of the the agent fixed everything she said.she got some teacher co-makers from that place whom we have no idea who they are and we havent seen them but they signed our forms. After the filling of forms and the check is already made that's the only time the lending personnel explained that we are only going to receive P182,000 because of the processing fee, advnce interest,px goods worth P3,000 its already there and it was too late to back out since we travelled all the way from that place and we need money. We thought that was all. Afterwards the agent approached us and said she will get P12,000 from each of us because of the van they rented and the co-agents and co-makers they need to short we only received P170,000.But wait there's more....the lending person said it was a take all policy...meaning all your salary, bonuses and allowances are included in the deduction.wala ng sukli.another shocking thing. No choice again because i am pregnant, i have 3 kids, my parents live with us & my husband earns a little so i grabbed it. I went home feeling betrayed,stupid and frustrated. the other teachers who applied for loan are only earning P3,000 as net pay mine is P6,000 because of other salary deductions.After 3mnths i called them and asked since they were able to deduct 30,000 from my salary because of my bonuses....and they mentioned something about emergncy loan if badly needed can i avail because i'l give birth suddenly they said its not possible i have to wait for a year.i had no other source. i filled ATM lost. The agent called me and said the lending compny will file a civil case against me together with the co-makers whom i never met and have no idea who they are. I want to pay them but i dont want to surrender my ATM to them again because i'm need money for my family and its take all.The agent kept on texting me to return my ATM bec they will file a case were infact she earned alot from us.What should i do? Please help

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