There are two major types of loan in the Philippines - secured and unsecured loan. A secured loan requires the borrower to have some sort of collateral as payment security for loan lenders. In the event that the borrower fails to pay the loan amount, lenders will take the asset and use it as a payment for the loaned money. On the other hand, an unsecured loan refers to a Personal Loan without collateral, but this often comes with a higher interest rate. It is considered higher risk since it doesnt have any form of security (aka the aforementioned collateral).

Why apply for Personal Loans. Here are the top reasons Filipinos borrow money.

Union bank personal loan application form

Everyone is so helpful. I'm a teacher and I can't afford to be scammed. Never has happened with this company. Great place to find loans. They are by far the best payday lender out broadway cash advances. Their customer service is always top notch and they truly care about their customers situations and well-being.

I am proud to say I am a Check City customer and I would not have made it through some pretty tough situations without them. Check City is quick, convenient, fair and has the lowest fees of any company I have used. The Lehi location was amazing.

Union bank personal loan application form

Third-party debt collectors may pay just a few pennies on the dollar to buy your debt. If you can, start by offering 50 of what you owe to settle the debt. Get any agreement in writing, and make sure the document states that your balance will be reduced to zero. Union bank personal loan application form the lender: Look, I simply cant pay you and Im considering bankruptcy, says John Ulzheimer, a credit expert who has worked at credit scoring company FICO and credit bureau Equifax.

The minute you start using the BK word, they get real serious, because BK means they get nothing. Get any agreement in writing, and make sure the document states that your balance will be reduced to zero. In official terms, you want the debt exhausted.

If you fail to settle, make sure you know how to deal with debt collectors because their practices can be intense: collections agents showing up at your workplace, calling you 10 times a day, and threatening to sue or report your delinquency to the credit bureaus.

The court summons. If you think collections agencies dont bother to sue for small amounts, think again.

Union bank personal loan application form