provided by Blend.ph
After three (3) months of default, under the loan contract signed by the borrower, the whole loan will be due and demandable.
The loan account will then be forwarded to our Collection Department. In its discretion, it will decide if and when to file a case of violation of BP 22 for post-dated checks or small claims depending on the loan amount.
If the case would not prosper due to absconding or inability to pay the
(d) collection fees
a refinancing agreement or compromise agreement will be entered into based on the discretion of our Collection Department. Any amount that will be recovered will be reimbursed to the lender save for the authorized fees due to the company.