OFWs, for the sake of your beloved, don’t take loans!
Feb 27, 2015
Overseas Filipino workers or OFWs, and most Filipinos, are used to borrowing money from lenders here in the Philippines. And often, they bring this attitude even when they’re working abroad. The United Arab Emirates is one country that offers loans or credit cards with low interest rates for borrowers. Many OFWs can’t say no to such temptations. So OFWs apply for loans or credit cards, without thinking for a million times if they’ll be able to pay for its charges or not. And this is where situations get worse. Because most OFWs just grab the offers, they fail to see the hidden charges underneath and the consequences they’ll face. Advice to OFWs: Avoid Loan Sharks According to the Department of Foreign Affairs (DFA), an alarming number of OFWs in the UAE were detained due to loan cases. Tips for OFWs: Don’t Be a Victim of Loan Sharks
DFA had advised OFWs to take extra precaution when taking loans or credit cards. Failure to pay for it may result to civil or criminal charges filed by the lenders, whether banks or individuals. Bouncing checks issued also face the same charges, since lenders require OFWs to attach their signatures on blank checks as part of their security measures.
Debt-related cases in UAE are difficult to handle, because a travel ban is imposed for civil cases. This means that OFWs will not be allowed to leave UAE because of unpaid loans or credit card charges. Co-makers and guarantors will also be apprehended and detained for this.
OFWs should learn to manage their money wisely to avoid making loans since failure to pay for it will result to consequences they wouldn’t want to experience with their work abroad. Learn to live with what you earn OFWs, so you can return to your family waiting for you.
Tip for OFWs: How to Avoid Loan Sharks
*source: globalnation.inquirer.net
