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small loans blank document

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1 small loans blank document on Fri Aug 07, 2015 12:42 am

Fr0stburn


Arresto Menor
Good day po. I need advice on something. The situation is this, I took out a salary loan on a lending company and over time I was able to pay off almost all of the total 60 thousand pesos down to only 9 thousand but since then as having resigned from my employment due to some problems back home, I was not able to update my payments so that it went up to 16 thousand in interest and penalty. I reached out to the company and I gave them a promissory note. What I want to ask is this: during the time we agreed on the terms of payment for the balance, they asked for a specimen signature on a blank piece of paper an they kept it along with my files. I did not realize what happened until so until later. Can they use that signature to write just about anything to show that I agreed to put up any property of mine as collateral on a non-collateral loan?

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2 Re: small loans blank document on Fri Aug 07, 2015 12:46 pm

Filia


Reclusion Perpetua
Yes, they can do everything they want about that signature even as against you but you could always put up the defense that you were only made to sign it. The truth is your defense.

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3 Re: small loans blank document on Sat Aug 29, 2015 9:40 pm

Fr0stburn


Arresto Menor
thank you for the reply. I just also would like to ask clarification on this. Is it considered a legal document as it was not signed in the presence of any witnesses so it cannot be notarized right?

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4 Re: small loans blank document on Sat Aug 29, 2015 9:43 pm

Fr0stburn


Arresto Menor
thank you for the reply. I just also would like to ask clarification on this. Is it considered a legal document as it was not signed in the presence of any witnesses so it cannot be notarized right?

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5 Re: small loans blank document on Tue Sep 01, 2015 1:05 pm

Filia


Reclusion Perpetua
What do you mean when you say legal document? Anyways, documents need not be notarized to be binding. What notarization does is to make a document a public document, thus the matters therein may not be questioned.

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