Here’s a breakdown of what can happen if you have an unpaid online loan in the Philippines: 1. Consequences from the Lender: Late Fees and Penalties: You’ll immediately accumulate late fees, interest charges, and penalties, significantly increasing your debt. Intensive Harassment: Online lenders, especially illegal ones, often resort to aggressive collection tactics like: Constant calls and messages […]
Can You Go To Jail For Not Paying Online Loan In The Philippines?
No, you cannot go to jail simply for not paying an online loan in the Philippines. Here’s why: Philippine Constitution (Article III, Section 20): The Philippine Constitution explicitly prohibits imprisonment for debt. This means you cannot be arrested or jailed solely because you are unable to repay a loan. Focus on Civil Cases: Lenders can […]
What Happen If You Can’t Pay Your Debt In The Philippines?
If you can’t pay your debts in the Philippines, there are several potential consequences you might face: Legal Action Civil Case for Sum of Money: The lender can file a civil lawsuit against you to recover the outstanding debt. The court can issue a judgment ordering you to repay. Wage Garnishment: In some cases, the […]