Read on to find out how to spot and avoid these traps.

A trustworthy loan provider…

has a market history in the Philippines or abroad
has a customer care center (call center) that is easy to reach using any phone
has a well-developed website
willingly answers all client questions at shops or through its customer care center
does not hide any information about its loans, interests and fees
always makes you read the contract and gives you enough time to ask questions before you sign any loan contract
does not leave any blank spaces in the contract to fill in later when you are not there
always give you written (printed) copies of loan documents
uses clear and understandable language
offers multiple ways to repay loans (repayment channels)