Mandated Foreclosure for Delinquent Govt. Loans

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PRESIDENTIAL DECREE NO. 385: Mandated Foreclosure for Delinquent Govt. Loans

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Title Supreme Court: Mandated Foreclosure for Delinquent Govt. Loans

Law: Presidential Decree No. 385

Decision Date: Jan 31, 1974

Presidential Decree No. 385 mandates the foreclosure of loans with arrearages of at least 20% of the total outstanding obligation by government financial institutions in the Philippines, aiming to ensure timely repayment and restrict the issuance of restraining orders or injunctions unless a minimum payment has been made.

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