I think a strong trait of Filipinos is deviousness (not being rude to them as every population has some negatives traits). I have seen it in many different situations. I believe that most of them have no intention whatsoever of repaying a loan. They know that before they borrow. People need a secure collateral before lending.
They do of course consider the effect of non-repayment. Among their considerations is that you gave money once, and as they all say (or think), "He's a foreigner, he can afford it", and so a strong enough need in future may cause you to give again. Also, being a foreigner you might be gone any day. My first loan was to a housewife who did laundry for me. She showed me 3 months worth of unpaid electric bills, with an imminent shut-off, rendering useless their electronics. I loaned the amount, I believe it was around p700. As it happens, when I asked for return she was part of a group of women surrounding a moneylender's collector, who was entering their accounts in his book. So you see, they do repay when future loans are at stake. She told me straight out that she would not repay it. I appreciated the forthrightness, and told her there would be no future loan. She took that in stride.
I think many of these money lenders can be quite tough - the borrowers pay up because they might want a loan again (as you say ) or are scared not to. They know we aliens are gentle folk!
