John Clark
@JohnC239
Canadian expat in the Philippines
Forum posts
2
Contacts
2
About me
Canadian
Lives in makati
Registration: 25 April 2015
About
Occupation
I am Self-employed.
My expat journey
Philippines
Canada
Activity
Is there really a debtor's prison in the Philippines? by eric1008
I have a close friend who said her sister is going to prison for owing a bank loan of 100000 pesos. Do they still have such a thing for debtors? If she does get sent away, how hard is it to get her out? I really am worried about this.
So you can sleep better at night, do this: Have your friend scan and send you all the bank info, payments, terms of the loan, phone # of the bank and who to talk to. Call the bank and see for yourself. Don't be surprised if you don't receive ... Read More
Is there really a debtor's prison in the Philippines? by eric1008
I have a close friend who said her sister is going to prison for owing a bank loan of 100000 pesos. Do they still have such a thing for debtors? If she does get sent away, how hard is it to get her out? I really am worried about this.
The family said the loan is for 100,000. She owes 45,000 for 3 weekly interest payments at 15,000 per week. Did she take out a 2 month loan (8 weeks x 15,000 per week = 120,000). Banks don't make this type of loan to people who have no money. ... Read More