Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password

You are not connected. Please login or register

can sum of money be filed as criminal case?

Go down  Message [Page 1 of 1]

1 can sum of money be filed as criminal case? on Sat Jan 07, 2012 4:34 pm


Arresto Menor
can sum of money be filed as criminal case?
I loaned the money from a independent financier. He does not have any lending establishment. I have been a good payer since i started my loan with him. But it was mid last year that i was just shocked why my payday pyments are so big and i am always keen in computing my loan amortization. Only to find out that he changed his computation same with how banks compute the loans. He did not inform me either verbal or written that he had change his computation and nor signed any contract. I signed a promissory note which the only stipulations contained if i resigned from my current company the amount is deemed demandle. So when i computed for my entire loan, the interest almost doubled so i look for another financing company to transfer to and i informed him that i will pay off my loan and since i cannot afford the interest rates and his computation. He would not agree. He would still charge me the interest of those months i extended before. I only stop the payments because we can not agree at tsome point. I have not run away from my debt. i am still on the same company and i am still living the same place. My loan principal is only 35k and the interest he charged on me is 36k plus... his interest charge is 5 % but when he changed the computation the interest on the months i extended he added it on my principal. Is this even a valid computation? i have no bad record on financing companies. need an advise please.

View user profile


Arresto Mayor
....i believe the best thing you can do is to talk to that person again and try to convince him to reconsider. but just in case there can be no sound agreement between you and him, better open an account in a bank in his favor and deposit your payment therein including the interest at the original rate.

.....meanwhile, you can go to court and file a case to fix the proper interest. if not just go to a good lawyer and ask him/her to help you in fixing the problem (this might mitigate your expenses just in case).

View user profile


he has to follow the interest computation stated on your contract. if interest is not compounded, then he cannot do so. the legal remedy is indeed to file a complaint for fixing of proper interest.

[i] Visit our FB Page: FOR MORE LEGAL ADVICE  
Warning and Disclaimer: I am not your lawyer; and you are not my client. With the limitations of an  Internet forum, a thorough review of your concern is not possible. View my comments at YOUR OWN RISK. It is best to actually retain a lawyer for your individual concerns.
View user profile

Sponsored content

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum