Face Value

Times have definitely changed since my grandparents' times. In those days, Tsinoys deal with each other based on "sin yong" (trustworthiness). You can buy things on credit with just a verbal promise of a future payment in lieu of a contract. That's because in those times, people really value their "sin yong" because they know that once trust is broken, it's difficult to rebuild.

Nowadays, we can't work that way. People just don't have the sames about honoring verbal promises. And since loans nowadays may be for non-emergency things like boats and RVs (like the ones offered by goodsamfinancecenter.com), you should really put everything down on your contract, because people just don't value sin yong as much as our grandfathers did.