Legal Question in Credit and Debt Law in Philippines

i told my friend about the money she lends for the people i used it by myself some of it gave to the people but unfortunately they didnt pay me on due dates,is 15percent interest in 15 days are legal?now they wanted to sue me for the money they lend which i gave the last interest on may 10, what shud i do?the ionteerst that people didnt settle they make it as anothe capital and i used a name that does not exist,tomorow she want me to sign a contract with my mom telling to pay 350thou 20,thousand every month,is it legal or should i seek a lawyer

Asked on 5/20/13, 10:30 am

1 Answer from Attorneys


Just talk to your friend and negotiate regarding the payment.

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Answered on 5/23/13, 6:18 am

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