OFWs default on crisis-support loans

OFWs default on crisis-support loans

Published at VERA Files on April 1, 2010
By JEREMAIAH M. OPINIANO
OFW Journalism Consortium

DAVAO CITY.–A government executive here warns of an increasing number of overseas Filipino workers defaulting on their loans from an economic crisis credit facility.

Zenobia Caro, officer-in-charge of the Overseas Workers Welfare Administration Region XI, said she is worried about the low repayment rate among overseas Filipino workers who borrowed from a two-year credit facility.

The loans, tapped from the Filipino Expatriate Livelihood Support Fund (FELSF), would mature by year’s end....MORE