Legal Question in Credit and Debt Law in Philippines

If a we forclose a real estate property by extra judicial forclosure,

q1. can we ask for additional payment? and claim that the forclosed property is not sufficient with the loan balance

q2. can we at the same time file a case with the court?

q3. if yes, civil or criminal case? pls clarify what to file.


Asked on 5/17/12, 9:03 pm

1 Answer from Attorneys
VOLTAIRE T. DUANO VOLTAIRE T. DUANO LAW OFFICE

Yes, you can still collect any deficiency, if there be any. Civil case for collection of the deficiency.

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Answered on 5/21/12, 11:40 pm


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