LENDING CONTRACTS VOID?

Magandang umaga po. Gusto ko lang po humingi ng advice regarding po sa loan ko sa isang lending po dito sa pilipinas. Ginamit ko po yung pera pang placement ko for Taiwan. Nakahiram po ako sa kanila ng 80k. Ang monthly amortization ko po dun is 5,907 Taiwan Dollar for 16 months. Pero unluckily po napauwi po ako dahil nagkasakit po ako sa Taiwan. Sa madalit sabi po hindi pa po ako nakapagbayad kahit minsan. Pero ayon po sa contract namin by January 05, 2011 pa po ang unang monthly payment ko. Ngaun po pinupwersa po ako ng lending na magbayad ng partial. Nakapag provide po ako ng 10k last week at ibinayad ko po yun sa opisina nila, pero ang nilagay po nila sa resibo ay penalty daw po un? Pano po nagkaroon agad ng penalty ung loan ko eh January 05, 2011 pa po ang first schedule of payment ko. Pwede ko po bang ilaban ung dating contract namin na 5907 Taiwan Dollar for 16 months na terms ng loan ko. Salamat po.

did you issue checks to them?

what i recommend is that you write a letter stating that your payment of 10k should be applied to the principal because there is no basis for the penalty.

Yes I have issued to their office the whole booklet of blank checks. Is there any law on the interest na ipinataw nila sa loan ko? hindi ko po ba pwede sundin na lang ung contract namin sa Taiwan dati at i convert ko na lang po sa peso ung currency ng pera?

a whole booklet of blank checks? they are all signed?

the law covering this will be the basic law of obligations and contracts in the civil code. yes, you should be able to pay in peso the equivalent in twd.

you should also be allowed to pay with the same installments. please see your contract if there is an acceleration clause and what are the conditions to make it effective.

yes po whole booklet att signed. actually po wala ako hawak na contract. ang meron lang po sa akin is ung slip ng monthly amortization ko dapat sa taiwan. kasi po kung icocompute ko po ung sinasabi nilang monthly ko ngaun ay mas malaki po sa dating napagkasunduan. ano po kaya ang pwede ko sabihin sa opisina nila?

tell them you will stick to the original agreement.

paano po pag hindi sila pumayag ano po ang pwede kong gawin?

you can either wait for them to file a collection case against you and you can raise your defense that you have been abiding by the original agreement (you will need proof of payment of tender of payment such as receipts, letters, emails.)

or you can initiate your own case to deposit your payments in court.