DFA cautions OFWs on unpaid loans, bouncing checks

THE Department of Foreign Affairs (DFA) cautions overseas Filipino workers (OFWs) in the United Arab Emirates on taking out loans and using credit cards.

The advisory is being issued in view of the alarming increase in the number of Filipinos detained due to unpaid loans.

Many people are tempted to apply for loans in the UAE due to various reasons. They are lured by low interest rates, without paying much attention to the other charges which appear in the fine print, and the prospect of taking as much as 18 months of one’s salary. Usually, banks require only a certificate of employment to approve a loan application. (MORE)

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  1. “Many people are tempted to apply for loans” Surely most Filipinos would want to apply for loan due to some financial reasons. If we’re applying for a loan, we should make sure that its a trusted lender. Just wanted to share something that might help readers. See and visit loansolutions[dot]ph they cater most loans. Thanks!

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