BANGKOK: The Philippine Embassy in Bangkok on Wednesday, April 5, warned ‘Pinoys’ in Thailand against the use of passports as collateral in loans or obligations.
Posted on its website, the Embassy reminded Filipinos in Thailand to refrain from using passport as a guarantee for loans and or other obligations noting that passports are property of the Government of the Republic of the Philippines.
According to the post, passports held by another person are automatically cancelled citing provisions of Foreign Service Circular No. 214-99 of the DFA that states, “Philippine Passports that are reported as being held by another person as guarantee or collateral for loans/obligations are automatically cancelled upon notice from or by the holder(s) of the said passport(s). The cancellation of the passport(s), therefore, renders the passport(s) INVALID FOR THE PURPOSE OF GUARANTEEING PAYMENT OF LOANS/ OBLIGATIONS.”
“The wrong use of passports are punishable under existing Philippine laws,” the post further stated.
Follow this link for the Philippine Embassy website.