It’s Your Money > Banking

Are payday loans allowed in the Philippines?

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lost_in_samoa:

--- Quote from: barbaramnegron on October 28, 2018, 07:57:47 PM ---loans
--- End quote ---

Proverbs 22:7

barbaramnegron:
Wow. thx all for answers!

--- Quote from: suzukig1 on October 29, 2018, 01:26:33 PM ---So I would be interested to hear more of what you are proposing.

--- End quote ---


No, I dont want to create a company that will issue loans. Only compare the conditions of loans: terms of issue, the necessary documents, etc. So far my colleagues have created such a site. The site still requires improvements and good design. But this will be implemented when we are satisfied with the information we need.

I already found some sites that compare the terms of loans in the Philippines.
But, as I understood, they compare loans in banking institutions.
Also, I found companies that seem to work like loans. Now, We are trying to find out how legally they work, and whether they really provide loans on their own terms.
As far as I know, in Lithuania, Latvia, Poland and Ukraine, to create a comparison service, you do not need to register with various financial institutions and receive a kind of “license”.

Thank you all for the advice.
I am very pleased to receive such feedback!



Edit by Steve:
Removed all URL links. New members are not allowed to post links. See http://www.livinginthephilippines.com/forum/index.php?topic=48245.0
BTW: Welcome to the forum. Glad to have you aboard. Please review the link I provided for you.

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