Article 1957

RA 386 · Civil Code of the PhilippinesKey provision

ELI5— what this means for you

Stipulated interest rates that are excessively high (unconscionable) may be reduced by courts to a reasonable rate. The Supreme Court has reduced rates of 5-6% per month to legal rates.

Official text — RA 386

Full article text is being added. Read the official text at officialgazette.gov.ph.

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