Asialink Late Payment Penalty

Hi Attys...

Needed advise.

I paid all of my principal + interest payments in Asialink Bacolod last 2014. It was only 27,000, but since a lost my job, I was able to reconstruct my loan paying them 800 monthly.

However, after paying off my loan, their agent called me saying i have to pay them at total of 16K+ coz I wasn't able to pay on time. I do pay monthly however I could be delayed for one or two days coz' I was pregnant that time and it was hard to meet up their collectors I had to set a time and place so I can pay my loan (often theyre the one who are late I need to contact them so I can pay). Also, after paying my principal and interest, an employee in charge of their accounting office told me not to bother paying for the penalty as long as the principal was already paid off...only i can't claim clearance.

4 years has passed but I am still very terrified coz' they might sue me anytime and put me in prison. I lost contact with them already coz i have a new number and moved in a new place. I am a single mother and the breadwinner of the family and I don't want to ruin my child's future and reputation because of this. I am also afraid to go to their office coz they might just recall my account, embarass me there and put myself in a hot situation.

For my peace of mind, hoping for good lawyers here to give me relief.

Thanks and hope to hear from you soon.

Just like in your other post, I will reiterate the principle in law that no one gets imprisoned because of civil cases.

You need to call up their office and ask for an update regarding your loan, if you really want to clear up that loan as cleanly as possible. If there are penalties and surcharges that you must pay, you should revisit the terms and conditions that you signed up for and see if what they are saying matches up with the loan contract that you have agreed upon in the first place. If the restructuring of your loan is in written form, revisit that as well and see if there are terms and conditions that are applicable in your case.

Call them up first via landline or cellphone so that you can gauge their treatment of you. Since you are willing to settle your account with them, I do not think that they will treat you unfairly or even embarrass you. After all, a lending company's primary goal is to have their loans returned with interest.

Good luck with that, and I hope everything works out favorably for you.