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Personal loan was used by others

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1 Personal loan was used by others on Fri Oct 20, 2017 3:31 pm


Arresto Menor
Hi magtatanong lang po sana ako,i have a friend who ask me a favor ganito un,nagpaloan sya sa akin sa isang commercial bank under my name,but all the proceeds ay pinadala ko sakanya lahat and we have agreed na sya ang magbabayad ng monthly ammortization..all the documents of the bank we’re signed by me it was all under my name..kaso ngayon sinisingil ko sya for her obligations pahirapan kami up to the point na nag bounced ung cheke na inissue ko for monthly ammortization sa bank dahil di nya napondohan..ngayon hindi nanaman sya nagbabayad on time at ako ang tinatawagan ng bank to settle dahil nga nakapangalan sakin un..hope you can help me thank you

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2 Re: Personal loan was used by others on Sat Oct 21, 2017 11:35 am


Reclusion Perpetua
Since the loan is under your name, and all the documents are under your signature, you are the one obligated to pay for the loan. The Bank doesn't care what you did with the money, nor does the bank care about the agreement of your friend. So my advice is to pay the bank, and you collect the debt that your friend owe you.

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3 Re: Personal loan was used by others on Sat Oct 21, 2017 4:28 pm


Arresto Menor
Is there any case i can file against my friend?thank you

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4 Re: Personal loan was used by others on Sat Nov 25, 2017 8:16 am


Prision Mayor
Try filing a collection case against your so-called friend if he really does not pay. You may not have any other recourse but to go the legal route. Try reading this. I hope this helps you.

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