Too much interest

hi!

gusto ko po sana ng advise kung ano po ang dapat ko gawin, nangutang po ako ng 20K last december 2009 sa asawa ng kumare ko na foreigner at ang collateral nila ay ang atm ko sa trabaho. Kapos po kc ako nung mga panahon n un at nawala n po ako ng trabaho. hindi po ako nkakabayad ng capital nun kaya I am forced to pay the interest every month na 10% w/c is 2k a month. last june they forced me to pay the capital, ngbigay po ako ng 3,5 at sabi nila ibabawas nila sa capital but they didn't. all in all po nkabayad po ng 12,500 sa interest lng po at 4,500 sa capital. tinatakot po nila aq n mgfile cla ng case against me. nkiusap po ako n kung pedeng ung naihulog ko sa knila dati ay iconsider nila n bawas sa capital pero ayaw po nila pumayag kasi daw po ginusto ko din nmn daw un, For me, hindi ko po ginusto un, i am just forced xe di nmn cla papayag n wala k ibayayad sa kanila. Baon n ung tao, lalo pa nila ibinabaon dahil sa laki ng interest nila, to think n di cla ngbabayad ng tax at foreigner pa xia.ano po kelangan ko gawin?salamat

please don't use text spelling.

is this loan agreement in writing?

We have written agreement that I have a borrowed money from them which is 20,000 pesos but it was not notarized. Today, I have given them 3,500 to complete the 20,000 capital that I borrowed. But they are still demanding regarding interest, they are threatening me that they will file a legal case.

is the interest stated in the agreement? it does not have to be notarized to be valid.

keep your evidence of payments. if they file a case this is your evidence.

good day po.


i think my sister in somehow in the same situation. my question is , pwede po ba na ibawas yung mga interest na naibgay dun sa principal amount? wala pong document yung sister ko except sa mga receipts na nagbayad sya sa kanila ng interest. pwede po ba palabasin na yung ibinyad nya ay para sa principal at hindi para sa interest?
she tried commiting suicide , now i dont know what to do.

meron na po ba reply? sorry po i need po answer...salamat po.

helpme, if there is no written agreement as to interest, then interest is not demandable.