Hi.. just to update fellows who are suffering the same plight of harassment of collection agencies deviating from BSP Circular 454.
Here's to help enlighten you and give you the courage to face your financial troubles head on'
Salary Loan or Credit Card loans are both considered as Unsecured Loans from a risk standpoint.
Ito yung producto ng bank na ino-offer sa consumers na hindi kailangan ng collateral. You only need to meet certain criteria to qualify, you don`t even need a co-maker. High risk cya but take note high yielding or profitable,, tiba tiba cla jan.
Its a very attractive financial product for the working class. The banks and other independent financial institutions utilize this business model to earn interest over a period of time. Business nga kasi. Letting money work. Ang target market nila are consumers ranging from low income to middle income to lifestyle enthusiast. So there`s always an avenue to loan restructure, kita pa rin.
So kung nag fall prey ka dito this is where trouble starts, middle income ka, tas biglang may dagok na dumating,
- CANCER ng Mother
- Job separation
- Mental Health
at nag default ka ng default.. hanggang sa na endorse na sa debt-buyers and account mo,
and these monsters are like hyenas, they thrive on the principle of interest and their ability to cast fear and damage to you.
Ang tanong, lalabanan mo ba cla or meron ka bang pwedeng hingan ng tulong para ma resolve ang
The Answer is YES.
Bangko Sentral ng Pilipinas governs and regulates all SFIs. * Supervised Financial Institutions.
Banks, lending, remittances, pawnshops. at lahat ng institutions na yan ay mandated to comply, abide and follow, the guidelines they have stipulated to exercise equal protection of the laws.
One of which is BSP circular 454.
a) the use or threat of violence or other criminal means to harm the physical person, reputation, or property of any person.
b) the use of obscenities, insults, or profane language which amount to a criminal act or offense under applicable laws.
c) disclosure of the names of credit cardholders who allegedly refuse to pay debts, with certain exceptions.
d) threat to take any action that cannot legally be taken.
e) communicating or threat to communicate to any person credit information which is known to be false, including failure to communicate that a debt is being disputed.
f) any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a cardholder.
g) making contact at unreasonable/inconvenient times or hours which shall be defined as contact before 6:00 a.m. or after 10:00 p.m., unless the account is past due for more than sixty (60) days or the cardholder has given express permission or said times are the only reasonable or convenient opportunities for contact.
so kung hina harass ka ngayon, call asap BSP Consumer Affairs Division Direct Line. 708-70-87.
i handa mo ang narrative, at document lahat ng harassment sayo na na hit yung 454. kasama na din ang proposed re-settlement or restructuring. This is to enable BSP to flag the bank of their partnered Collection Agency excesses and violation of the BSP guidelines and promote consumer protection. Call first and then email your narrative, explain clearly bakit ka sumabit sa pagbabayad at apply for Amnesty. Pag na file mo na, waiting game ka ngayon, for BSP after 7 days, kung anong action ng bank sa account mo, ano ang offer nilang aprubado nila, sa atraso mo.
considering BSP guidelines and temperance of interest and AMnesty, AMnesty is where human consideration is a factor.
Seek the help of the gov`t institutions and Human Rights to pressure the bank to exercise better judgment. 80% of the Ph population are working class, yan ang reyalidad, and naging mahina tayo sa pag resist ng temptations of consumerism, sakit ng yan economic system..
pag na settle na yung arrangement, mag bayad na ulet and always reach out kung sasabit and stop falling prey to this business deals, mag debit card ka na lng and cash to cash basis and put your earnings to savings. Hope nakatulong. Will let you know kung anong reso.