List of online lending harassment Philippines (2023 victims)

online lending harassment philippines

The rise of online lending platforms in the Philippines has provided a convenient source of financial assistance for individuals and businesses alike. However, alongside this convenience has emerged a concerning trend: online loan harassment. This article explores the issue of online loan harassment in the Philippines, its impact on borrowers, and available legal recourse.

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TOP 10+ BEST ONLINE LOANS INSTANT APPROVAL PHILIPPINES

Update 06/2024

(Online Loan Application)


Finbro PH loan

FINBRO PHILIPPINES

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1,000₱ - 50,000₱

Term: 30 - 360 days.

Interest rate: 0% for first loan.

Repayment: End of term.

Only ID Card required.

Age: 20 - 70.

(Receive money in 10 mins)




Kviku PH loan

KVIKU PHILIPPINES

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500₱ - 25,000₱

Term: 60 - 180 days.

Interest rate: 1.2% months.

Repayment: Monthly or End of term.

Only ID Card required.

Age: 18 - 65.

(Receive money in 5 mins)




Soscredit PH loan

SOSCREDIT PHILIPPINES

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1,000₱ - 25,000₱

Term: 90 - 360 days.

Interest rate: 0% for first loan.

Repayment: Monthly or End of term.

Only ID Card required.

Age: 20 - 70.

(Receive money in 15 mins)




Credify PH loan

CREDIFY PHILIPPINES

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1,000₱ - 25,000₱

Term: 90 - 360 days.

Interest rate: 0% for first loan.

Repayment: Monthly or End of term.

OOnly National ID required.

Age: 20 - 70.

(Receive money in 15 mins)




Pesoredee PH loan

BINIXO PHILIPPINES

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1,000₱ - 25,000₱

Term: 90 - 360 days.

Interest rate: 0% for first loan.

Repayment: End of term.

Only ID Card required.

Age: 18 - 70.

(Receive money in 15 mins)




Digido PH loan

DIGIDO PHILIPPINES

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1,000₱ - 25,000₱

Term: 90 - 180 days.

Interest rate: 0% for 7 days.

Repayment: Monthly or End of term.

Only ID Card required.

Age: 21 - 70.

(Receive money in 4 mins)




Cash-Express PH loan

CASH-EXPRESS PHILIPPINES

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1,000₱ - 20,000₱

Term: 7 - 30 days.

Interest rate: 0% for first loan.

Repayment: End of term.

Only ID Card required.

Age: 21 - 70.

(Receive money in 5 mins)




Crezu PH loan

CREZU PHILIPPINES

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1,000₱ - 25,000₱

Term: 60 - 120 days.

Interest rate: 0% for first loan.

Repayment: End of term.

Only ID Card required.

Age: 18 - 70.

(Easy loan approval)




MoneyCat PH loan

MONEYCAT PHILIPPINES

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500₱ - 20,000₱

Term: 90 - 180 days.

Interest rate: 0% for first loan.

Repayment: End of term.

Only ID Card required.

Age: 22 - 75.

(Receive money in 15 mins)




loanonline PH

LOANONLINE PHILIPPINES

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500₱ - 25,000₱

Term: 90 - 360 days.

Interest rate: 0% for first loan.

Repayment: Monthly or End of term.

Only ID Card required.

Age: 18 - 70.

(Easy loan approval)




Finloo PH loan

FINLOO PHILIPPINES

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1,000₱ - 25,000₱

Term: 30 days.

Interest rate: from 12% - 36%

Repayment: End of term.

Only ID Card required.

Age: 18 - 65.

(Receive money in 10 mins)




Pesoredee PH loan

PESOREDEE PHILIPPINES

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1,000₱ - 20,000₱

Term: 7 - 120 days.

Interest rate: 0% for first loan.

Repayment: End of term.

Only ID Card required.

Age: 21 - 70.

(Receive money in 5 mins)


What is Online Loan Harassment?

Online loan harassment refers to the aggressive and unethical debt collection practices employed by some online lending platforms. These practices can include:

  • Verbal abuse and threats: Borrowers may be subjected to verbal abuse, including insults and threats of violence.
  • Public shaming: Loan sharks may publicly shame borrowers by posting their photos and personal information on social media, along with defamatory statements.
  • Harassing phone calls: Borrowers may receive incessant phone calls from debt collectors, often at odd hours.
  • Contacting family and friends: Loan sharks may contact the borrower’s family and friends to pressure them into repaying the loan.

Impact of Online Loan Harassment

Online loan harassment can have a devastating impact on borrowers’ lives. It can lead to:

  • Psychological distress: The stress of harassment can lead to anxiety, depression, and even suicidal thoughts.
  • Financial hardship: Borrowers may be forced to borrow more money to pay off the harassment, leading to a cycle of debt.
  • Damaged reputation: Public shaming can damage the borrower’s reputation and make it difficult for them to find employment or housing.

Legal Recourse for Online Loan Harassment

The Philippine government has recognized the seriousness of online loan harassment and has implemented several measures to protect borrowers. These include:

  • Memorandum Circular No. 18, Series of 2019: This circular issued by the Securities and Exchange Commission (SEC) prohibits unfair debt collection practices, including threats, harassment, and public shaming.
  • Access Devices Regulation Act of 1998: This law criminalizes unauthorized collections and harassment techniques used by loan collectors.

What You Can Do if You Are Harassed

If you are being harassed by an online loan shark, here are some steps you can take:

  • File a complaint with the SEC: You can file a complaint online or offline through the SEC’s website.
  • Report the harassment to the National Bureau of Investigation (NBI) Cybercrime Division: The NBI can investigate and prosecute online loan sharks.
  • Seek legal help: A lawyer can advise you of your rights and help you take legal action against the loan shark.

Protecting Yourself from Online Loan Harassment

Here are some tips to protect yourself from online loan harassment:

  • Borrow from reputable lenders: Only borrow from licensed and regulated lenders.
  • Read the loan agreement carefully: Make sure you understand the terms and conditions of the loan before you sign.
  • Do not provide your personal information to anyone you do not trust.
  • Report any suspicious activity to the authorities.

Conclusion

Online loan harassment is a serious problem in the Philippines. By being aware of the issue and taking steps to protect yourself, you can avoid falling victim to this harmful practice. If you are being harassed, remember that you have legal rights and there are people who can help.

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