Welcome, Guest
Username: Password: Remember me

TOPIC: Humongous loan interest rate

Humongous loan interest rate 1 year 11 months ago #17632

Good day po! :)
I want to ask for a legal advice po sana.
Lately, we're having financial difficulties kasi po most of our family members got sick and usually because of heart problems. My 22 year-old sister was hospitalized last year and with this, my mom sought help from a friend. He lent money to my mom telling my mom that she can just pay it little by little. She lent P300,000 to my mom but my mom only received P225,000 since he said he needed to deduct the advance interest which is 25% per month. It's barely a year now and my mom still hasn't been able to pay full since my mom, my younger sister (5 year-old) and my grandpa were both hospitalized just this year as well. And then out of the blue, the money lender who is a friend of my mom, asked her to pay what she owes within a year or else he'll grab the land that my grandpa owns ( I forgot to tell you that he held the land title as collateral; he has no permit to lend money though) . And mind you, the amount that my mom owes now is P1.6 million. How can my mom pay it if the interest rate is humongous? Actually, I just learned about it today and I really feel pity towards my mom. She wants to pay it but I know that the interest is so huge. Plus the fact that we're financially unstable now. I hope you can help me sir. I want to help my mo. I know there's a law that is against this too much interest and I know as well that he has no permit. What should I do? Please, I need your advice on this one. :(
Thanks a lot! God bless!
The administrator has disabled public write access.
Time to create page: 0.051 seconds
Powered by Kunena Forum ::

CONTACT US NOW!

Philippine Lawyers

We go live to answer all your questions

Free Legal Advice Every Wednesdays and Fridays
at 6:00 pm

Facebook Event | YouTube Channel

Season One

Episode 1:  August 31, 2018

Facebook Video | YouTube Video

Episode 2:  September 7, 2018

Facebook Video | YouTube Video

Episode 3:  September 13, 2018

Facebook Video | YouTube Video

Episode 4:  September 21, 2018

Facebook Video | YouTube Live

Episode 5:  September 28, 2018

Facebook Video | YouTube Video

Episode 6:  October 5, 2018

Facebook Video | YouTube Video

Free Legal Advice

IMPORTANT NOTICE

If your predicament is urgent; or, when your case is already pending in court; please do not opt for the free legal advice. It is best to get in touch with a lawyer the soonest possible time. I answer all queries here personally but sometimes it may take time because of my busy schedule. Rest assured all will be answered but the time is indefinite. Thank you for understanding.

Ranny Randolf B. Libayan

OFFICE HOURS

9:00 AM TO 5:00 PM Monday to Friday

We are also open for appointments on weekends

It is best to contact us for an appointment if you decide to visit us so you will be given priority

SERVICES WE OFFER:

Philippine Law Firm

Representation

We will represent you in court, administrative, and other tribunal hearings.

Law Firm in Taguig

Notarization

We provide notarization and drafting of all kinds of legal documents.

Notary Public

Legal Consultation/ Retainer

We provide the best legal advice about anything legal whether it be via retainer or just one time.

Philippines Free Legal Advice

Free Legal Advice Online

We provide free online legal advice just proceed to the forums.