Never ever, EVER do that. The rates they charge are jaw dropping. I have knowledge of a few people that have gone that route, and it was nightmare for them.
Needed 100k pesos for MIL clinic fee ( long story ). Wife was on her own here, did herself without me knowing.......
2 months later, I arrived, ranted and fumed...... sold 4 motorbikes I used to rent out..... paid back in 3 months. Cost less than 6000 pesos.
Actually the contract stipulated I needed to pay an xtra 5000 pesos at the end of contract, but for some unknown reason when we finally gor round to go and pick up original car papers, they just handed them over......:laugh:
Even if the rate is high ( and not ootrageous, I found ), u can pay back in whole whenever u like. Free of charge.
What first world bank lets u do that!!! I would have had to pay ALL the intrest of the contract, had I done that back in europe........
SO not a too bad a deal.......