RA 7394 (Consumer Act of the Philippines) Article 113

Credit Advertising.

Article 113

ART. 113. Credit Advertising. - No advertisement to aid, promote, or assist, directly or indirectly, any extension of consumer credit may: state that a specific periodic consumer credit amount or installment amount can be arranged, unless the creditor usually and customarily arranges credit payment or installments for that period and in that amount; and state that a specified down payment is required in any extension of consumer credit, unless the creditor usually or customarily arranges down payment in that amount.