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Are payday loans allowed in the Philippines?

By loraD in Philippines

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loraD Newbie

loraD   0

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Hey everyone. My name is Laura. I came to the Philippines from South Africa. I'm a junior specialist in the financial sphere, to be precise, in the direction of loans. Now I'm trying to find out more about loans in the Philippines. I would like to know if online loans are allowed in the Philippines? What should a company necessarily have at registration and what conditions?

I will be grateful for any useful information. Thanks 

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TBoneTX Grand Master

TBoneTX   43,048

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Filed: Citizen (apr) Country: Ecuador
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Thread is moved from Off Topic to the Philippines forum.

06-04-2007 = TSC stamps postal return-receipt for I-129f.

06-11-2007 = NOA1 date (unknown to me).

07-20-2007 = Phoned Immigration Officer; got WAC#; where's NOA1?

09-25-2007 = Touch (first-ever).

09-28-2007 = NOA1, 23 days after their 45-day promise to send it (grrrr).

10-20 & 11-14-2007 = Phoned ImmOffs; "still pending."

12-11-2007 = 180 days; file is "between workstations, may be early Jan."; touches 12/11 & 12/12.

12-18-2007 = Call; file is with Division 9 ofcr. (bckgrnd check); e-prompt to shake it; touch.

12-19-2007 = NOA2 by e-mail & web, dated 12-18-07 (187 days; 201 per VJ); in mail 12/24/07.

01-09-2008 = File from USCIS to NVC, 1-4-08; NVC creates file, 1/15/08; to consulate 1/16/08.

01-23-2008 = Consulate gets file; outdated Packet 4 mailed to fiancee 1/27/08; rec'd 3/3/08.

04-29-2008 = Fiancee's 4-min. consular interview, 8:30 a.m.; much evidence brought but not allowed to be presented (consul: "More proof! Second interview! Bring your fiance!").

05-05-2008 = Infuriating $12 call to non-English-speaking consulate appointment-setter.

05-06-2008 = Better $12 call to English-speaker; "joint" interview date 6/30/08 (my selection).

06-30-2008 = Stokes Interrogations w/Ecuadorian (not USC); "wait 2 weeks; we'll mail her."

07-2008 = Daily calls to DOS: "currently processing"; 8/05 = Phoned consulate, got Section Chief; wrote him.

08-07-08 = E-mail from consulate, promising to issue visa "as soon as we get her passport" (on 8/12, per DHL).

08-27-08 = Phoned consulate (they "couldn't find" our file); visa DHL'd 8/28; in hand 9/1; through POE on 10/9 with NO hassles(!).

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Hank_ Grand Master

Hank_   9,173

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Filed: Other Country: Philippines
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On 8/25/2018 at 8:35 AM, loraD said:

Hey everyone. My name is Laura. I came to the Philippines from South Africa. I'm a junior specialist in the financial sphere, to be precise, in the direction of loans. Now I'm trying to find out more about loans in the Philippines. I would like to know if online loans are allowed in the Philippines? What should a company necessarily have at registration and what conditions?

I will be grateful for any useful information. Thanks 

This for sure isn't a question you will find many answers to on a visa forum.

 

I would suggest to start searching Philippine government information regarding lending laws.

 

Maybe start here:  https://www.sec.gov.ph/wp-content/uploads/2015/08/IRR-Lending-Company-Regulation-Act-of-2007-RA-9474.pdf

Hank

"Chance Favors The Prepared Mind"

 

Picture

 

“LET’S GO BRANDON!”

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John & Rose Mentor

John & Rose   7,237

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Filed: Lift. Cond. (pnd) Country: Philippines
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On 8/26/2018 at 8:30 AM, Hank_ said:

This for sure isn't a question you will find many answers to on a visa forum.

 

I would suggest to start searching Philippine government information regarding lending laws.

 

Maybe start here:  https://www.sec.gov.ph/wp-content/uploads/2015/08/IRR-Lending-Company-Regulation-Act-of-2007-RA-9474.pdf

...and you said they wouldn't get answers here... LOL  This is BY FAR the best place for any Philippine information!

PHILIPPINES ONLY!!!  CFO (Commission on Filipinos Overseas) INFO - Can't leave home without it!

 

PDOS (Pre-Departure Registration and Orientation Seminar) is for ages 20-59.  Peer Counseling is for 13-19 years of age.

It is required to have the visa in their passport for PDOS and Peer Counseling.

 

GCP (Guidance and Counseling Program) is for K-1 Fiancee and IR/CR-1 spouse ONLY. 

 

 

IMG_5168.jpeg

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loraD Newbie

loraD   0

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Country: Philippines
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On 8/26/2018 at 4:30 PM, Hank_ said:

This for sure isn't a question you will find many answers to on a visa forum.

 

I would suggest to start searching Philippine government information regarding lending laws.

 

Maybe start here:  https://www.sec.gov.ph/wp-content/uploads/2015/08/IRR-Lending-Company-Regulation-Act-of-2007-RA-9474.pdf

great thx!

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Randyandyuni Experienced

Randyandyuni   2,682

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Filed: Citizen (pnd) Country: Philippines
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http://onlineloanphilippines.com/

 

looks like she chose to start that business, I would love to see how that works in the Philippines hopefully she has deep pockets

 

 

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loraD Newbie

loraD   0

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Country: Philippines
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On 9/7/2018 at 11:48 PM, Randyandyuni said:

http://onlineloanphilippines.com/

 

looks like she chose to start that business, I would love to see how that works in the Philippines hopefully she has deep pockets

Yes, our company began to develop a business comparing quick online loans in the Philippines. Now we are trying to study the legislation. Because in such countries as Poland, Spain, the United States and even in Ukraine there are no problems with this.

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