Comments on: How ( and ) Do Filipino People Declare Bankrupcy? http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/ Quick Answers to Bankruptcy Questions & Understand How Bankruptcy Laws Affect You Thu, 03 Dec 2009 17:06:21 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Bill O http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1920 Bill O Fri, 03 Apr 2009 00:46:39 +0000 http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1920 Yes you can file for Bankruptcy here in the Philippines, but it will cost more them 25T pesos, the best thing is to work with the bank and let them know if you can't get things worked out then you'll file for Bankruptcy. Here is a firm they can contact: GAPUZ & ASSOCIATES LAW OFFICES Ground Floor, Pelaez Sports Center Don Apolinar Velez Street Cagayan de Oro City, Philippines Tel. Nos.: (08822) 72-25-41; (08822) 72-82-37 Fax No.: (088) 856-27-13 E-Mail: or Contact Person: Atty. Armando S. Kho Area/s of Practice: Administrative Law, Alternative Dispute Resolution, Bankruptcy, Civil Law, Commercial Law, Constitutional & Political Law, Corporations & Business Organizations, Criminal Law, Education, Election Law, Family & Personal Law, General Practice, Government Agencies, Government Contracts, Labor & Employment, Legal Ethics & Professional Responsibility, Litigation, Military, Probate, Real Estate, Trusts & Estates. Yes you can file for Bankruptcy here in the Philippines, but it will cost more them 25T pesos, the best thing is to work with the bank and let them know if you can’t get things worked out then you’ll file for Bankruptcy. Here is a firm they can contact:

GAPUZ & ASSOCIATES LAW OFFICES
Ground Floor, Pelaez Sports Center
Don Apolinar Velez Street
Cagayan de Oro City, Philippines
Tel. Nos.: (08822) 72-25-41; (08822) 72-82-37
Fax No.: (088) 856-27-13
E-Mail: or
Contact Person: Atty. Armando S. Kho

Area/s of Practice: Administrative Law, Alternative Dispute Resolution, Bankruptcy, Civil Law, Commercial Law, Constitutional & Political Law, Corporations & Business Organizations, Criminal Law, Education, Election Law, Family & Personal Law, General Practice, Government Agencies, Government Contracts, Labor & Employment, Legal Ethics & Professional Responsibility, Litigation, Military, Probate, Real Estate, Trusts & Estates.

]]> By: oneiloilojeepney http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1919 oneiloilojeepney Tue, 31 Mar 2009 15:02:11 +0000 http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1919 No such animal here in the Philippines. You owe , you owe forever ! No such animal here in the Philippines. You owe , you owe forever !

]]> By: khushi http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1918 khushi Sun, 29 Mar 2009 14:44:51 +0000 http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1918 I think there's no bankruptcy laws here in the Philippines. If your friend have their property as collateral for money loans then they agree what the banks stated conditions. But still they can appeal for months to pay the debt before their property being cease by the bank. Some banks gives a grace period notice for the loaners to pay the debt. Only company or establishment can declare bankruptcy, so that they are not obliged to pay some separation pay and incentives for their employees. I think there’s no bankruptcy laws here in the Philippines. If your friend have their property as collateral for money loans then they agree what the banks stated conditions. But still they can appeal for months to pay the debt before their property being cease by the bank. Some banks gives a grace period notice for the loaners to pay the debt.

Only company or establishment can declare bankruptcy, so that they are not obliged to pay some separation pay and incentives for their employees.

]]> By: Jerome P http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1917 Jerome P Sun, 29 Mar 2009 05:25:11 +0000 http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1917 I am not aware of any bankrupcy protection/law in philippines so I guess some just hide with what's left with them. I am not aware of any bankrupcy protection/law in philippines so I guess some just hide with what’s left with them.

]]> By: maconsolviaa http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1916 maconsolviaa Sat, 28 Mar 2009 17:59:06 +0000 http://www.bankruptcy-help-resources.com/how-and-do-filipino-people-declare-bankrupcy/#comment-1916 Loans from the banks are not advisable because of high interest rates.In cases such as this one, the bank can`t force the family to pay the amount if the business gone bankruptcy. The bank only issues the loanable amount if the debtor has "collaterals" so that in cases that he can`t pay the amount, the bank can take those collaterals in lieu of the amount due. The bank has grace period for the family/individual to pay the amount. The family/individual could write a letter to extend the grace period or get a legal counsel for this matter. Loans from the banks are not advisable because of high interest rates.In cases such as this one, the bank can`t force the family to pay the amount if the business gone bankruptcy. The bank only issues the loanable amount if the debtor has “collaterals” so that in cases that he can`t pay the amount, the bank can take those collaterals in lieu of the amount due.

The bank has grace period for the family/individual to pay the amount. The family/individual could write a letter to extend the grace period or get a legal counsel for this matter.

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