Is Payday Loan Lending soon to be here in the Philippines? I heard in a buzz at the bank just the other day while I was withdrawing money from my account that payday loan will soon be a part of the Philippine banking system.
Payday loans are very popular in the U.K. and some other parts of Europe and this has something to do I guess with the culture of people. In the Philippines however, I don't believe that the same principles can be applied in a payday loan scheme although there are of course some possibilities that this could work with just a few modifications from the original rules and regulations before the lending institution allows people to make a loan based on their salary amount.
Maybe this payday loan could work here in the Philippines but there has to be some other measures and a swift and smooth market study before going into this kind of business.
Payday loans are very popular in the U.K. and some other parts of Europe and this has something to do I guess with the culture of people. In the Philippines however, I don't believe that the same principles can be applied in a payday loan scheme although there are of course some possibilities that this could work with just a few modifications from the original rules and regulations before the lending institution allows people to make a loan based on their salary amount.
Maybe this payday loan could work here in the Philippines but there has to be some other measures and a swift and smooth market study before going into this kind of business.
1 comment:
If and when you do get payday loans there let me know how it goes!
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