Can we penalized loan sharks in the Philippines?

i have debts in a certain lending company in the Philippines, this debt give me so much headache because even if i give a little amount every month. the amount i paid cant even minus the capital amount instead my debts become bigger and bigger the biggest amount i got from this lending was 30 thousand pesos. then some advances. but take not they are the owner of my monthly paycheck. In 2005 , the owner told me that my debt is already 176 000 pesos. i was crying because how can i pay that amount as a school teacher only receiving 3000 pesos monthly. she told me even if i retire i cant even pay it with my retirement pay. and still now i have to pay my debts, i dont know how much anymore but i think after more than 2 years i will pay maybe 300 thousand pesos. Please help me to solve my problem because i really thought that this is not just anymore. thank you so much for any answer

Can we penalized loan sharks in the Philippines?debt consolidation loan

What is your monthly interest????? What is your collateral? Is it land title?

You may be better off to take out another loan with better interest, pay off the major loan before it gets bigger and then work on paying off that one instead.

P30,000-P176,000 in two years is huge. Is your monthy salary P3,000 or P30,000?

Can we penalized loan sharks in the Philippines?

loan

The solution to a debt problem is to pay.