I would to ask for your advice..
Last Nov 2010, a distant relative borrowed from me 50k pesos. She promised to pay it within 2 weeks plus an interest of 10% (commonly known as 5-6, it was her idea, not mine). We had this agreement written on paper. However, when the loan was due, she told me that she had my money loaned to a third person and that person will be paying the amount the following week. She asked me to give her more time and promised that she will pay me as soon as she gets the money. She also asked if I could extend her additional loan of 45k making her debt to 100k (50k original principal + 5k interest + 45k additional) with the same interest rate of 10% every 2 weeks. I was hesistant to give her the additional loan kasi para sa akin e malaki na yung 50k na utang nya but she is a relative, and according to my mother, she was a good payer. I give her the additional 45k but without any written agreement (I admit, it was my mistake).
After two weeks, I texted her telling her to pay the 100k plus interest to my mother instead since I was in manila at that time when the loan was again due. I learned later from my mother that she only paid 14k pesos and again asked if she could pay the balance in 1 week time since she again loaned it to another third person.
To cut the story short, she never paid anymore. I kept on asking her through text about the loan but she only gave reasons and kept on asking for more time.
Last month, I lost my job and I really needed the money I gave her. I kept on texting her almost everyday, begging her to pay, even telling her to waive the interest, just pay the principal amount, but to no avail. Oftentimes she just ignored my texts and calls.
Sir, what should I do? Can I still recover the whole principal I gave her even if only 50k pesos was with a written agreement? Is my case within the jurisdiction of the small claims court? If ever this case will reach the court, will I stand a chance considering the lack of proof?
I only had the intention to be helpful but she betrayed me, and now I am suffering for being trustful.
Please help me sir...