The Case of Rachel Corpus

Rachel Corpus walked into your store to apply for a GECO motorcycle to be hooked up to a sidecar - the monthly installment is Php 4,000, 36 months to pay. She is single. Now residing in Cebu City. Rachel was born in Pagadian City but studied from high school to college in Cebu City). After graduation, she resided there with her husband who provided her with good income; thus, she had no need for a job, even if she is qualified computer engineer. She moved back to Pagadian City 2 years ago and rented an apartment. Her current residence, her 3^rd, is also an apartment (much bigger). Her parents, now deceased, left her an 8,000 sq.m. farm in Barangay Macasing which has 30 fruit-bearing mango trees that provide a net income of Php 3,000 per year. The family house in the farm is still livable, but Rachel feels more comfortable in the city proper.

She started working as computer instructor at Aim Tech Colleges since last year. She is paid Php 8000 per subject, gross. She has 10 subjects. She has no loan and she does not belong to a union.

She also has a sari-sari store, in front of her apartment, which sells, on gross basis Php 1,000 daily. She pays her maid Php 1,500 monthly plus free food. The maid doubles up as the sari-sari store caretaker. To stock up on her store, she goes to Maya's Wholesaler to buy groceries. The average grocery item could be bought wholesale at Php 20 and sold for Php 25 retail. Her apartment's rent is Php 3,000 and she pays Php 700 monthly for her electric, water, telephone and cable bills. She uses Php 400 worth of prepaid cell phone cards per month.

She intends to lease out (boundary system) her tricycle at Php 120 per day. So, it is a self-liquidating investment, she says. Monthly maintenance on the tricycle is estimated at Php 500.

She has 2 appliances on installment: 1 TV - 2 more months to go at Php 500/month and a refrigerator (2 door) 18 months to go at Php 1,000 monthly. She has a CD player, a stereo and an expensive sofa set, all paid for. She always paid on time.

Her boyfriend, she was proud to mention (without being asked) is now in California; he visits as a balikbayan every 6 months, a green card holder and he will be a US citizen in 4 years.

DECIDE WHETHER TO APPROVE OR DISAPPROVE BY SHOWING HER DI/MI RATIO.