Online lending app harassment is a growing and distressing issue for many borrowers in the Philippines. These practices can lead to severe emotional and psychological impacts, affecting the well-being of those targeted. This guide provides valuable information and resources to help victims navigate this challenging situation. Impact of Harassment The harassment tactics employed by some […]
Category Archives: Finance
When it comes to financing your dreams of owning a home, there are various options available to you. One such option is a home credit loan. This type of loan can provide you with the financial assistance you need to purchase your dream home. In this article, we will explore the reasons why you should […]
Encountering a loan shark in the Philippines can be a daunting and distressing experience. Their predatory practices often leave individuals feeling trapped and overwhelmed. Here’s a comprehensive guide to help you navigate this challenging situation and regain control: 1. Cease All Payments Immediate Action: Stop making any further payments to the loan shark. Their interest […]
Knowing how to identify a loan shark makes it easier to steer clear of illegal and harmful lending schemes. Keep these tips in mind when borrowing money to avoid falling prey to a loan shark: Avoid lenders who exhibit signs of being a loan shark. Be cautious of lenders offering too-good-to-be-true deals or seemingly effortless […]
Dealing with loan sharks can be an incredibly stressful and dangerous situation. If you find yourself in a position where you need a payday loan urgently for business or emergency purposes and loan sharks seem like your only option, it’s crucial to handle the situation with care and awareness. Here are some detailed steps to […]
Exorbitant Interest Rates Loan sharks are notorious for charging outrageously high interest rates, often exceeding 100%. Their schemes prey on individuals in desperate financial situations, offering seemingly quick and easy loans. However, the catch is that these loans need to be repaid within a very short period. Borrowers might be lured by the convenience of […]
Loan sharks are individuals or groups who engage in illegal lending practices in our country. These unlicensed moneylenders typically prey on people who are in urgent financial need and are often in a vulnerable position. They create an illusion of security by initially appearing kind and supportive, offering financial assistance when banks have rejected your […]
When it comes to borrowing money, there are a wide variety of reasons why individuals may need to take out a loan. Whether it’s for personal or business use, loans can provide the necessary funds to achieve specific goals and objectives. In this article, we will explore some of the most common purposes for taking […]
In the Philippines, various legal measures are in place to combat loan sharking and safeguard borrowers from exploitative lending practices. Here’s an overview of the key legal frameworks and enforcement mechanisms designed to protect consumers: Main Laws Anti-Usury Law (Act No. 2031) This pivotal law establishes a cap on the interest rates that lenders can […]
When it comes to borrowing money, whether it’s for personal or business reasons, the purpose of the loan plays a crucial role in determining its importance. Your loan purpose not only helps lenders assess the risk associated with lending you money but also influences the terms and conditions of the loan. In this article, we […]