April of this year i availed a loan from a loan provider online and I was approved for the amount of 6,000 pesos only. I was supposed to pay them in 1 month but i was not able to do so since things became so difficult for me and my family. I asked them for an extension and they were able to wait till july of 2016 (a
After all the unlimited calls and visit from the collector who intentionally embarrassed me in front of my neighbors). Unfortunately, i was still not able to pay them back. I got a demand letter from them asking me to pay more than 8000 pesos (interest and penalty included) early august and told them to please give me time to find a way to pay them back and he said he can wait for 1 week and thats it. 1 week passed, but i was still not able to get enough money to pay them back. The collector came back and yet again embarrased me in front of the gate while every passing neighbor heard him. I asked him again to understand and asked for a longer extension but he said no it is enough and there is nothing more i can do but to wait for the court hearing. So i did not know what to do if i should really wait for the court hearing and try to settle it in the court hoping it is the best option for me.
Today, the same collector came and gave me the court hearing date along with the papers from the RTC. It says that they demand almost 11,000 and that i should attend the hearing. Please enlighten me. Should i loom for a lawyer regarding this? Am i going to be in jail? Is this going to appear in my NBI records. Please help.