A defaulting borrower who got money from an on line lender complained of the collection process involving the barangay. The debtor got a text message informing the latter of hearing before the barangay, specifying the time of the hearing and the charge.
However it was found out:
1. No such hearing was scheduled for the day;
2. The barangay secretary has no knowledge of such hearing;
3. There were no hard copy of demand letters sent to the debtor;
4. The barangay official present said that such collection cases and it is written on the walls of the Hall of Justice of the Barangay, that such cases are not within the jurisdiction of Barangay Justice. Find out too if the Lending Investor are legit and duly licensed by BSP and or SEC
Clearly the text messages of the hearing was a sham. And for many online borrowers who defaulted, and this is not encourage non payment but to relieve stress and anxiety from such proceedings, ignore if the procedures herein mentioned are the same, Know your rights and correct procedure
There could be many illegal on line lending investors. And they must be ferreted and their shaming collection tactics , lies usurpation tactics should be stopped
