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    DECLARATION 50K Above 1

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    luciana
    1) A borrower and co-maker obtained a loan from a credit cooperative for a certain amount to be paid back over a set number of months. 2) The co-maker guarantees payment of the loan and gives irrevocable authorization for the cooperative to debit any amount owed, including interest and fees, from the co-maker's share capital if the borrower fails to pay on time. 3) This declaration binds the co-maker and any heirs to the terms agreed upon in the document.

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    DECLARATION 50K Above 1

    Uploaded by

    luciana
    52 views1 page
    1) A borrower and co-maker obtained a loan from a credit cooperative for a certain amount to be paid back over a set number of months. 2) The co-maker guarantees payment of the loan and gives irrevocable authorization for the cooperative to debit any amount owed, including interest and fees, from the co-maker's share capital if the borrower fails to pay on time. 3) This declaration binds the co-maker and any heirs to the terms agreed upon in the document.

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    DECLARATION-50K-Above-1 (1)

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    1) A borrower and co-maker obtained a loan from a credit cooperative for a certain amount to be paid back over a set number of months. 2) The co-maker guarantees payment of the loan and gives irrevocable authorization for the cooperative to debit any amount owed, including interest and fees, from the co-maker's share capital if the borrower fails to pay on time. 3) This declaration binds the co-maker and any heirs to the terms agreed upon in the document.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    52 views1 page

    DECLARATION 50K Above 1

    Uploaded by

    luciana
    1) A borrower and co-maker obtained a loan from a credit cooperative for a certain amount to be paid back over a set number of months. 2) The co-maker guarantees payment of the loan and gives irrevocable authorization for the cooperative to debit any amount owed, including interest and fees, from the co-maker's share capital if the borrower fails to pay on time. 3) This declaration binds the co-maker and any heirs to the terms agreed upon in the document.

    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
    of 1

    DECLARATION / IRREVOCABLE AUTHORIZATION

    KNOW ALL MEN BY THESE PRESENTS:

    That I, maker , of legal age, Filipino, and a resident of


    ________________________________________________________have
    address obtained a loan dated ________________________
    date from
    Amount in words
    the Paltok (SFM) Credit Cooperative in the sum of _________________________________________(Php______________),
    Months
    Philippine currency, which is payable in __________________, hereinafter referred to as the DEBTOR

    Co- maker
    That I, _______________________________________________________ , of legal age, Filipino, and a resident of
    address
    _________________________________________________ guarantees the payment of the loan obtained by the DEBTOR, hereinafter
    referred to as the CO-MAKER

    I, as the CO-MAKER, hereby DECLARE that I SOLIDARILY LIABLE that in case the DEBTOR fails to pay the loan on
    time, I am giving an IRREVOCABLE AUTHORIZATION for the Cooperative to immediately and automatically DEBIT the amount
    of loan plus interest or any amount due from me in relation to above loan indebtedness, from my SHARE CAPITAL with the
    Cooperative.

    I hereby declare further that this declaration/irrevocable AUTHORIZATION shall bind the undersigned as well as all my
    heirs and assigns.

    IN WITNESS WHEREOF, I have hereunto set my hand this _____ day of ____________________ at Quezon City.

    ____________________________ _______________________________
    Debtor Co-Maker

    Signed in the presence of:

    ______________________ ________________________

    REPUBLIC OF THE PHILIPPINES )


    QUEZON CITY ) S.S.

    BEFORE ME, this _____ day of ______________ at Quezon City, personally appeared:

    _____________________________________
    Co- maker Type of ID ID No#
    with her ________________________________ known to me to be the
    same person who executed the foregoing Declaration/Irrevocable Authorization and he acknowledged to me that the same is his free
    and voluntary act and deed.

    IN WITNESS WHEREOF, I have hereunto set my hand and seal on this _____ day of ________________ at Quezon City.

    NOTARY PUBLIC

    Doc. No. __________


    Page No. __________
    Book No. __________
    Series of 2023

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