My name is Miles, im currently working in a BPO company as a phoen specialist. Im sending this email, seeking for a legal advice regarding a contract i signed. Last April 2015, I personally applied a loan to get a Macbook Pro for home credit philippines to which i made a down payment of 15,000 on that time. Dated today, i have paid 3consecutive months for the monthly recurring payment of 5,250 due on every 10th of each month specific dates paid were may until july.
Now due to financial difficulty i failed to pay on months of aug, sept and oct as my family and I undergone a financial crises due to me being sick. I just have few questions that needs to be answered as i truly want this to be settled if I were given enough time.
Currently a field collecting officer has been visiting my house asking for may payment. Apart from which im recieving constant calls from homecredit phil as well for like more than 10 times a day to which i could no longer count. They've told me thats the calls are agreed upon due to the contract i have signed.
1. What case can be filed against me if ever i failed to pay?
2. What move can i do to settle this, will it be possible to settle the amount on a monthly basis once i have fully recovered from my current financial status with the teue value of the item i have gotten.
3. Is it legal that these people would contact me all day thru calls and visitation? And what can i do to stop this?
Thank you for answering my query. Looking forward for your helpful guidance.