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Signed a blank paper before loan was released

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1 Signed a blank paper before loan was released on Wed Nov 23, 2016 11:11 pm


Arresto Menor
Hi Attys. and to all who can help me.

I'm not sure if such a problem has already been posted.


Amount of the loan: Php 40000
Interest per month: 5%

I'm from the BPO industry and I got a loan from a loan shark (who claimed to be a lawyer) through an officemate who referred me to him and this officemate also acted as "comaker" verbally (because there was no contract or docs whatsoever that we signed together unlike those legit lending companies) along with another colleague.

I was able to pay on-time during the first month, however, I missed 2 payments recently due to the fact that our project ended already. I already explained my predicament to the "loanshark" and to my "comakers". I told them that I will pay once I get my first salary this coming Dec 10 but they're inconsiderate.

Worse is that I signed a blank bond paper before the money was released. The "loan shark" said that it's really his practice in case someone will not pay him, he will use that blank bond paper to write items on it (may it be gadgets, appliances, etc) to be used against the borrower.

Not only that, one of my "comakers" already reached my family to the point of harassing them already.

Here are my questions:

1. If for example that signed blank paper will be fabricated and will be used against me, what would be my best recourse?

2. My comaker also chatted my family, she's telling them that she and the loan shark will go to our house and get our things if I will not be able to pay.

- Do they have the right to do that? I don't own our house and I don't own the things that are in there and I'm even no longer living there now.

- Is there a counter case or anything that I can do or say to her that would stop her from harassing my family? In the first place my loan doesn't involve my family.

- Because of this "harassment" made to my family, my dad almost had a heart attack, good thing he was immediately rushed to the hospital.

I know that it's my responsibility to pay my debts. I just think it's not right when they already involved my family.

Thanks and hope I can hear a reply soon.

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