Loan sharks, also known as “5-6” lenders, are unscrupulous individuals or organizations that prey on vulnerable individuals in need of quick cash. They often charge exorbitant interest rates and employ aggressive tactics to collect payments, causing immense stress and financial burden to borrowers. In the Philippines, where the presence of loan sharks is unfortunately prevalent, […]
Category Archives: Personal Finance
When it comes to borrowing money, it’s important to be aware of the different types of loans available. One term that you may have come across is “shark loan.” In this blog post, we will explore the meaning of shark loan and discuss why it is important to avoid such loans. What is a Shark […]
An unsecured loan is a type of loan that is not backed by collateral. This means that the borrower does not need to provide any assets, such as a house or a car, as security for the loan. Instead, the lender relies solely on the borrower’s creditworthiness and ability to repay the loan. This makes […]
When it comes to borrowing money, the Philippines has a unique concept called “utang.” Utang refers to the act of borrowing money from someone, usually a friend or a family member, without any formal agreement or interest rates. Utang is deeply ingrained in Filipino culture and is often seen as a way to help each […]
When it comes to borrowing money or dealing with debts, it’s important to understand the local terminology used in different countries. In the Philippines, a loan or a debt is commonly referred to as “utang.” This term is widely used by Filipinos to describe any financial obligation that involves borrowing or owing money. The word […]