how to revoke a signed trust receipt agreement

[size=12]magandang araw po..nais ko lng po sana masagot din yung pinoproblema ko po ngaun..may nahiraman po akong nagpapautang na 10% ang interes sa principal amount na ang pagbabayad po ay 1st installment tuwing 15th of the month at ung second installment po ay tuwing end of the month..pag hindi po naibigay ung payment for the 1st installment magbabayad po ako ng interest ng whole amount..taz gagawin na pong 1st installment ko ulit yung supposedly eh 2nd payment ko na which is the end of the month..may mga nahiram po ako sa kanya na may kanya kanyang due date sana po pero ang ginawa nya eh pinagsama-sama na po sa iisang araw ng bayaran. dahil sobrang napakalaki na po ung principal amount..nahirapan na po ako na magbayad..sa interes palang po kami nag-uusap eh hirap na po ako kasi ang sabi niya anuman po yung maihulog ko within 15 days eh maibabawas sa interest tapos yung matitira eh may 10% interest na naman po..i felt na sobra pa sa compounded interest ang ginawa..ang masaklap po pinapirmahan po sa akin ung trust receipt agreement which i resist to sign po sana kasi nakalagay po dun that i received jewelries where infact wala naman po akong nireceive dahil pera lng naman po ung inutang ko... pero sinabihan ako with these lines." bakit niloloko mo ba ako?" "ayaw mo ba akong bayaran" "bakit ayaw mong pirmahan to?" "nakakaintindi ka ba? wala kasing nakukulong sa utang na pera lang kaya e2 payo sa amin ng abogado namin". He even asked me to loan sa SSS para lng may maibayad po ako sa kanya..nakapagloan po ako pero napagisip isip ko po na pag ibibigay ko po sa kanya yung niloan ko hindi parin po ako makakahinga sa bigat nung amount..i decided not to give him what i loaned from SSS instead, ginamit ko nalang po yun for my family's needs..sa ngayon po pinadalhan napo ako ng demand notice..im trying to seek legal assistance na rin po pra maprotektahan ko din po sarili ko..im just worried po how to revoke yung trust receipt agreement na pinapirmahan po sa akin na sa isip ko po bka gamitin po nya yun para masampahan ako ng criminal case..thank you so much po in anticipation of any enlightenment na makakatulong po sa case ko po.

that was devious to make it appear you received jewelry. failure to abide by a trust agreement is considered estafa. unfortunately, you agreed, and now the burden of proof is on you to disprove what is stated on the agreement because it is presumed to be true.

does the demand letter refer to the jewelry?

what you will need to prepare now is your proof that this was just a loan. gather your witnesses who can help you.

to rescind a loan contract, the proper recourse is to file a complaint in the RTC. i would recommend this step because they are poised to file a criminal case against you.

incidentally, 10 percent interest, if per month, is unconscionable and should be reduced accordingly. good luck.