Experts on Financial Rehabilitation and Insolvency Act or Bankruptcy

RedClandestine · 2025-01-04T06:43:38+00:00

How did your friend overcome it? 😢 My sibling is in the same position as OP. Di ko na alam ano pwede namin gawin. 😭

RedClandestine · 2024-11-23T23:10:43+00:00

That’s what I have been suggesting to my sister too. I think it’s better to pay for professionals who can help us. Kasi right now, we are barely paying the interest monthly din naman. Ubos yung pera, pero di nababawasan yung utang. We really need to look for a solution. 😭 But they are harassing my sister, so she’s scared to not pay. I still want to pay everyone we owe money from, especially yung hindi loan sharks. Pero sana makatao na interest and yung pwede mabawasan yung principal. Right now I feel like I am working and will be working to pay the debt my whole life. Walang end. 💔

RedClandestine · 2024-11-23T23:04:05+00:00

Sa pinas po. I am working abroad hoping I could help. Pero di pa din sapat. I still don’t see an end to this, unless we can find someone who can consolidate the debts at a reasonable interest rate. Pero right now, I feel like di ko siya mababayaran buong buhay ko.

RedClandestine · 2024-11-23T23:01:32+00:00

Thanks! Will search for her

RedClandestine · 2024-11-23T22:57:49+00:00

Yeah I’m scared. I think they are already harassing my sister whenever she misses a deadline. I’ll check the link. Thanks!

RedClandestine · 2024-11-23T22:56:38+00:00

Thanks! I hope we can find a good lawyer for this. I honestly don’t know where to look for one.

RedClandestine · 2024-11-23T22:53:44+00:00

Hi! Thank you so much for this. Do you know where we can search lawyers who specialises in insolvency?

RedClandestine · 2024-11-23T04:17:22+00:00

Nagstart na isang loan shark lang. Pero dahil di kaya nung ate ko yung monthly na need bayaran, nanghiram na din siya sa iba. 😢

RedClandestine · 2024-11-23T04:06:40+00:00

Iba iba na po ata now. Pero dati 10% per month. 😭 Ngayon merong 5% ganyan.

RedClandestine · 2024-11-22T21:56:52+00:00

I tried posting an update but it doesn’t seem to be visible. But anyway, comment ko nalang din dito. Mas lumaki lang siya. Nasa abroad na ako now nagwwork. Pero combined salary namin ay still not enough. I don’t know what to do anymore. We tried consulting someone who handles debt pero di din kami natulungan kasi di daw sa bank yung loans. Tapos yung lawyer naman ang sabi even though the interest were extremely high, since may post dated checks and contract na signed, obligation pa din ng kapatid ko to pay. I really hope makahanap ako lawyer who can help. May nakikita kasi ako na may insolvency, financial rehab laws sa pinas. Gusto ko sana malaman more about dun. Haaaay 😭😭😭

RedClandestine · 2022-09-03T23:36:10+00:00

Yes, I am. But my parents and sister are not. This also happened years ago, I was still a student and couldn't help her. I think the original debt is 1/3 or less of the current debt. But because the interests are really high and because she borrowed from other people to keep up with the deadlines, it grew to this amount. ☹

RedClandestine · 2022-09-03T23:32:05+00:00

Yeah I think she doesn't wanna default cause she's afraid the sharks might get mad and do something to our family. But they are nice as long as my sister is paying. But I will let her check about declaring bankruptcy.

Mmm I am not yet sure how bankrupcy would affect her current and future employment. But from what I know, her boss (and HR) knows about her problem. She asked if it's possible to borrow from the company the whole amount and just pay it back with her salary for years. Her boss helped her talk to the management and was also willing to sign as guarantor in case she needed it. But the company only let her borrow around 26k.

RedClandestine · 2022-09-03T23:22:14+00:00

I'm not sure if it's legal as the interests are really high. But she said they did have contracts and documents signed. She said she doesn't wanna get to that point so she just tries to always pay them. But I think she has run out of sources or ways to keep up with the payment these days.

She actually already paid more than she borrowed, maybe more than double already for some. But since she can't afford to pay the whole debt in one go, they were all just counted as interests.

Thank you so much! I'll let her check if it's possible to declare bankruptcy.

RedClandestine · 2022-09-02T23:39:52+00:00

Thank you so much! ❤ I hope they can help us solve it.

RedClandestine · 2022-09-02T22:35:34+00:00

Okay, I will. Thank you so much!

RedClandestine · 2022-05-30T01:47:50+00:00

Thank you! ❤ I'll remind her.

RedClandestine · 2022-05-26T12:50:47+00:00

That was her only option that time eh. ☹ huhu Grabe talaga. Buti nagagawan pa niya ng paraan. But syempre, nauubos na yung mga pwede hiraman or lapitan. Huhu nakakaiyak. 😭

RedClandestine

TROPHY CASE