OFW Migrant Worker Loan

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Back in the early 2012, migrant worker loan for OFWs have been earning a good reputation for being one of the most availed loan in the Philippines. OWWA does not have this. A few years back from today, 2016, this loan has been stopped due to the increase of delinquent accounts and lending companies finding no reason to offer it. It is due to decrease in Filipino paying loan borrowers who mostly work or have migrated to work abroad or is a citizenship holder in a foreign country as OFW. Leaving only their immediate family member or relative to pay for the loan as their principal borrowers, the payments were usually either not being remitted or not paid by the principals here in the Philippines.