Now In Philippines, If you got Shamed By Loaners, It can turn into crime.
Philippines, Manila – In debt management, bullying and humiliation should be prohibited. This is the proposal of a bill by Sen. Sherwin Gatchalian seeks to ban abusive debt collection methods.
Under Senate Bill No. 1336 or the “Fair Debt Collection Practices Act,” The Senator wants to prohibit “the use of unfair, fraudulent and abusive debt collection and collection “.
This is due to complaints of embarrassment or intimidation of those who have not been able to pay, especially on social media, he said. “This bill aims to eliminate abusive and unfair debt collectors’ collection of debt against our poor people,” Gatchalian said in a statement. “The bill also ensures that debt collectors are protected from abuses.”
Under the measure, any debt collector is prohibited from “harassing or bullying” debtors. It also prohibits “using fraudulent representations or methods of debt collection,” Gatchalian said. The measure also aims to ensure that the debtors’ information is confidential and not publicly disclosed without their consent.
Up to P30,000 can be the maximum fine for violators.