Yes, online payday loans are legal in the Philippines, but with regulations in place to protect borrowers. Here’s a breakdown: Legality: Online payday loan companies must be registered with the Securities and Exchange Commission (SEC) Philippines and have a Certificate of Authority (CA). This ensures they follow specific guidelines. Regulations: Interest Rates and Fees: The SEC […]
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Does Private Student Loan Debt Go Away After 7 Years?
Unfortunately, private student loan debt does not automatically go away after 7 years. Unlike some forms of consumer debt, private student loans generally have no statute of limitations. This means the lender can continue to pursue the debt for an indefinite period. Here’s what to know: Statute of Limitations: These laws put a time limit […]
How Long can You go without Car Insurance Before Being Penalized?
You can’t legally drive without car insurance at all. It’s mandatory in most countries and states. However, there might be a grace period depending on your situation: 1. Your Location: Every state (and countries outside the US) have their own laws about how quickly car insurance lapses are detected and penalties applied. 2. The Situation: […]
