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Delayed payment of salary loan

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1 Delayed payment of salary loan on Fri Aug 04, 2017 11:04 pm

Orlandz


Arresto Menor
Hi atty!
I availed a salary loan in a rural bank under automatic payroll deduction system (APDS) of DepEd last June of 2016. Of my proceeds, the bank charged me of 4 months advance payment since I am a new employee and my salary is not yet integrated to the payroll system of Deped, but until now Im still in the supplementary payroll, thus, the bank cannot automatically deduct my monthly loan amortization.
My monthly amortization is delayed for 7 months and the bank filed a civil case against me for collection of sum of money amounting to 278,000.
My question is; Do they have legal basis for filing the case since the bank as private lending investor (PLI) and Deped has a MOA of APDS? upon the approval of my load i already signed the authority to
deduct.
Some of my friends suffered the same problem and made an ammecable settellment with the bank, they reconstructed their remaining loan balances plus penalties, plus 15% of attys fees and 10% other litigation expenses and their payroll atm card is hold/pawned by the bank. They forcely do this to avoid inconvenience. Do i do the same? Since it is a clear violation of the MOA and even the BSP rules?
Hoping for your advice....thanks.

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