Payment Schedule — Kervin & Anna

How it works

1

The agreed price for the second cat is ₱25,000. You already paid a ₱3,000 downpayment, leaving a balance of ₱22,000.

2

Pay ₱5,500 every 15 days, starting April 5, 2026. Four payments total.

3

Zero interest — pay on time and you pay back exactly ₱22,000. Not a peso more.

4

Final payment on May 20, 2026 — done in two months. Clean and simple.

✅ Pay on time, pay exactly ₱22,000

No interest, no fees, no complications. This agreement exists so both sides are protected — the goal is a smooth finish, not penalties.

Payment schedule

#	Due Date	Pay	Balance Left
01	Apr 05, 2026	₱5,500	₱16,500
02	Apr 20, 2026	₱5,500	₱11,000
03	May 05, 2026	₱5,500	₱5,500
04	May 20, 2026	₱5,500	₱0 🎉
Total paid		₱22,000	DONE ✓

⚠️ Late payment penalties — examples

₱100 per day, from the due date

There's no flat fee and no grace period. From day one after the due date, ₱100 per day accrues on that missed payment. Each payment tracks its own penalty independently.

5 days late

5 days × ₱100 = ₱500 penalty

Pay ₱6,000 instead of ₱5,500

14 days late

14 days × ₱100 = ₱1,400 penalty

Pay ₱6,900 instead of ₱5,500

Two payments missed — Day 18

Payment 1 (due Apr 5) and Payment 2 (due Apr 20) both unpaid by Apr 23.

Payment 1: 18 days × ₱100 = ₱1,800
Payment 2: 3 days × ₱100 = ₱300

₱2,100 in penalties + ₱11,000 owed = ₱13,100 total

Missed 2 payments in a row — collateral applies

If two consecutive payments are missed, the lender has the right to take possession of the Kawasaki motorcycle (CR No. 0086578307) as settlement. They're not looking to do that — but they can. Stay on track and this never comes up.