Lenddo

[babyboo.0326]

nabiktima na rin ako ng ADA ng lenddo.

this morning, i sent a mobile transfer payment of my past due, and a portion of my current due. then i sent an email, stating na yung balanse i will pay by the end of the month. so the whole day, hindi ako nagworry. hanggang tonight, pag check ko ng email ko, merong update ng payment. i thought ito na yung acknowledgement ng payment ko nung umaga. yun pala, kinaltas pa nila yung whole amount ko for this month, plus yung past due ko. so meaning, nagbayad na ako ng umaga ng 3k, nag-kaltas sila ng 3708 and 1499 nung gabi. nag-over pa ako! tinawagan ko yung auditor na naka-assign sa account ko. he's on sick leave pala. so since naka attention sa kanya yung email ko about the payment, hindi siya ginalaw ng iba. kaya dinerecho nilang debit yung lahat na 8200! wala nang natira sa sweldo ko. sabi niya sa akin he will verify with accounting daw bukas. tapos sabi ko, 3k lang talaga yung kaya kong ibayad kasi naka budget na for medicine, allowance and bills yung kinuha nila. they have to give that back to me. nakikipag coordinate naman ako ng maayos sa kanya e. 

[Girltalker2]

haven't heard of lenddo.  mukhang loaning company sya, which I believe should be charging outrageous rates?  or maybe I am wrong.  I am surprised na nasa page 2 na itong thread pero wala pang nagsasabi how much ang interest rates. 

how much ang interest rates nya?  kasi for me, a loan can only be interesting if it can offer lower lending rates than other alternatives like the banks (never compare with credit cards or loansharks), pag-ibig or SSS.

[babyboo.0326]

you can check the FAQs here

^i loaned 33, 000, then repayment, additional 11, 502.60. so total amount with interest payable in 12 months is 44, 502.60. every month kasi ang bayad ko is 3, 708.55

[freelancer_babe]

Really sis? That's 35% PA interest?

Ang laki pala nila magpainterest. Hahabol na sila sa interest sa mga CCs.

[babyboo.0326]

^kaka-compute ko lang. yes, ang laki nga. kinagat ko siya kasi less hassle of going to banks. not to mention mahihirapan ako sa banks dahil may CMAP ako. 

[freelancer_babe]

Ah, makes sense.

I guess wala ka ring SSS or PAGIBIG?

Last year I was able to get MPL/salary loans of around P25k from PAGIBIG and, few months ago P30k from SSS. Pero matagal na akong naghuhulog sa dalawang yan kaya medyo malaki-laki na rin ang nahihiram ko. The PA interest of both is only a bit more than 10%.

[babyboo.0326]

^i do.

kaka-loan ko lang sa pag-ibig i think last week of June. maliit lang, 6k lang. then sa SSS, i have a loan which just reached 50% of the term loan first week of July.

sa lenddo, you need to be employed and regular to be able to loan from them and need to have a bank account din. i just took a chance because i need that to pay for my son's school tuition backlog.

[freelancer_babe]

Yap, yun nga lang I have chosen "project based" before kasi ayaw i-qualify ang "self-employed" sa loans. Ngayon pwede na ang "self-employed" status. Lenddo must have fixed the bug.

Mataas naman ang Lenddo score ko, I think = 626. Account sa LinkedIn lang ang wala sa akin. I'm active in both FB and Twitter.

Bank account is not a problem. I have plenty over various banks, checking and savings. 

Ang problema ko nga lang sa Lenddo account is, kailangan ko pa ng trusted connections. Yun ang wala ako.

I guess still try to make myself qualified Lenddo if I have time. Though it will not be a top priority for me because of the very high interest. Ngayon ko lang nakita na may sliding calculator na pala sila sa mismong site nila, I don't remember seeing that before.

[freelancer_babe]

One thing more... do they have long grace periods? I mean yung time na you could pay the loan in full without the interest?

Parang sa credit card when you are given around one to two months grace period before finance charges set in; or in SSS at PAGIBIG na mga two months ang grace period before they start the amortizations.

If they have long grace periods, then getting a Lenddo account is probably worth it.

[babyboo.0326]

they don't have grace periods sa pagkakaalam ko. they will charge you a late fee of 500 for every month that you will be late for your payment. and even if you pay ahead of your term loan maturity, they will still require you to include the pre-computed interest. 

[freelancer_babe]

thanks for providing more details sis babyboo!

ouchies nga talaga ang lenddo! 

[babyboo.0326]

^you're welcome! 

oo nga e. kung hindi lang talaga need ko nung time na yun, i wouldn't go for it. kaso i had no choice. ok naman na, they gave back nga lang the manual payment i made. and posted sa account ko yung na-ADA na nila. which makes my account now current. pina-adjust ko na rin yung payment scheme ko into twice a month instead of one-time drawout.

[Girltalker2]

Really sis? That's 35% PA interest?

Ang laki pala nila magpainterest. Hahabol na sila sa interest sa mga CCs.

That's onerous, parang credit card narin ang interest mo, mas maganda pa ata sa credit card (may 1% per month ba ngayon).

Really not worth it. That means to say if you loaned 30k, more than 10k ang interest mo. I'd sell my celphone nalang to gain back the 30k, kasi ultimately, yung nagastos ko na 10k sa interest, puede ko ipambili ng mas mura na celphone.

[hazelnut026]

Hi, my loan was approved. pero di ko alam kung isusubmit ko ba yung ADA form sa bank ko bago ipasok yung loan ko? please help.

thanks!

[babyboo.0326]

^yup, you need to submit sa bank the ADA form muna.

^^if i had the choice na sa ibang way to loan, i'd do it. kaso, i don't have credit card, i have CMAP rin so i can't loan sa bank. it's for my son's education naman so kahit na malaki yung interest, i grabbed it nalang. hindi ko naman ginamit sa wala lang naman e so it's ok. but that would be the last.

[freelancer_babe]

^ I understand now. Sana makarecover ka sis. 

[Girltalker2]

^^ is there an option to paydown early if you have the funds na so you don't need to pay such high interest rates, at least for the remaining term of the loan? 

mahirap nga kung talagang walang option and you need the funds asap.  kung may ibang loan alternatives, make credit cards, shark loans and these types of loans be your last options kasi sobra na silang nag-t-take advantage.

as for tuition fees, you can start saving as early as 1-2 years in advance para pagdating ng bayaran, hindi ka gipitin ng mga ganyang companies.  (easier said than done, as it is not easy especially if you have 2 or more kids).  good  luck and hope everything goes well.

 

[freelancer_babe]

She just mentioned in some few previous posts na kasama pa rin ang pre-computed interest if should one decide pay in advance.

So Lenddo not really indeed a very good option. It's even quite harmful to use as a last resort, especially if you had maxed out your other loans.

Yung tuition fee, advance ko na rin iniipon - but this is just true for college lang. Yun kasi ang mahal eh. I decided not to get any preneed plans, talagang iniipon ko na lang monthly.

[hazelnut026]

Thanks! Anyways,  May idea ba kayo kung ilang days bago makuha ang loan mo?

[rheme]

can anyone tell me how much their interest rates?how long din ba ang term?for example 5k ang iloan mo?mgkano ang interest at terms..??kakaloka naman,everyday my notification ako to apply for that kind of loan sa yahho at fb ko....need ba na ang bank mo is in there suggestions or pwede other bank aside from that??.di kasi maspecify ang name ng bank kahit my other na.