Tag: Loan Payments
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Supreme Court Mandates Banks to Accept Borrowers’ Payments Without Unjust Refusal
In a landmark decision, the Supreme Court has ruled that banks must not unreasonably decline payments from borrowers, a move that could prevent borrowers from incurring additional interest and fees. The ruling came after the SC Third Division reviewed a case involving Premiere Development Bank and a couple who attempted to settle their PHP2.6 million…
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Supreme Court Mandates Banks to Accept Borrower Payments Without Unreasonable Refusal
In a landmark decision, the Supreme Court has ruled that banks must not unreasonably refuse payments from borrowers, a move that aims to protect borrowers from incurring additional interest and fees. The ruling came after a case involving Premiere Development Bank and a couple who attempted to settle their personal loan of PHP2.6 million with…
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