A Filipina overseas Filipino worker (OFW) is so financially desperate that she has come up with an open letter to her fellow kababayans seeking help in writing off loans and not spending time in jail.
“Maria”, not her real name, faces arrest for accumulated loans amounting to 200,000 dirhams or P2.2 million.
Nine banks in Dubai are going after “Maria." She refuses to face the camera because her mother is suffering from hypertension and also to protect her from her current job.
Maria is a training coordinator who agreed to ventilate her case in media, hoping that she can raise funds and address her financial woes.
Her problems led to a miscarriage partly caused by stress.
The financial mess started in 2007 when she was attracted to the offers by banks for loans and credit cards.
That was a time when her husband was earning well in a construction-related job.
Maria continued her borrowing spree in 2009 after she landed a job as a finance administrator with a monthly salary of 10,000 dirhams or roughly P110,000 pesos.
But the global recession a few months later took the toll on them, and many industries in Dubai took a hit, including the construction business.
Maria was eventually fired from her job after her colleagues discovered her huge debt, which could have a bearing in her handling of company accounts.
Her problems further aggravated when she suffered a miscarriage and insurers refused to cover her hospital bills.
Maria appealed to the banks for an indefinite deferment in the payment of loans, but the banks declined saying this is not part of their policy.
Despite the tight situation, Maria is not entertaining thoughts of escaping or returning to Manila.
Maria's biggest dilemma now is how she can send money to the Philippines so her two sons can continue with their education.
Her last hope is for the open letter to get across all social networks and her appeal for 1-dirham per OFW (P11 for each kababayan) be heeded.
The case of Maria mirrors the plight of many Filipino workers in Dubai who were lured by the juicy offers from banks for loans and credit cards.
The Philippine Embassy in the UAE is spearheading moves for finance literacy seminars for OFWs aimed at improving budget and finance management.
Source: ABS-CBN News
“Maria”, not her real name, faces arrest for accumulated loans amounting to 200,000 dirhams or P2.2 million.
Nine banks in Dubai are going after “Maria." She refuses to face the camera because her mother is suffering from hypertension and also to protect her from her current job.
Maria is a training coordinator who agreed to ventilate her case in media, hoping that she can raise funds and address her financial woes.
Her problems led to a miscarriage partly caused by stress.
The financial mess started in 2007 when she was attracted to the offers by banks for loans and credit cards.
That was a time when her husband was earning well in a construction-related job.
Maria continued her borrowing spree in 2009 after she landed a job as a finance administrator with a monthly salary of 10,000 dirhams or roughly P110,000 pesos.
But the global recession a few months later took the toll on them, and many industries in Dubai took a hit, including the construction business.
Maria was eventually fired from her job after her colleagues discovered her huge debt, which could have a bearing in her handling of company accounts.
Her problems further aggravated when she suffered a miscarriage and insurers refused to cover her hospital bills.
Maria appealed to the banks for an indefinite deferment in the payment of loans, but the banks declined saying this is not part of their policy.
Despite the tight situation, Maria is not entertaining thoughts of escaping or returning to Manila.
Maria's biggest dilemma now is how she can send money to the Philippines so her two sons can continue with their education.
Her last hope is for the open letter to get across all social networks and her appeal for 1-dirham per OFW (P11 for each kababayan) be heeded.
The case of Maria mirrors the plight of many Filipino workers in Dubai who were lured by the juicy offers from banks for loans and credit cards.
The Philippine Embassy in the UAE is spearheading moves for finance literacy seminars for OFWs aimed at improving budget and finance management.
Source: ABS-CBN News
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