Credit card defaults are increasing in the Philippines. While most people honestly intends to honor their debts and pay their credit card bills,sadly, they only get berated,and humiliations and threats instead from collectors who act as if it is their money these people owe. The collectors engages in nasty calls, send fraudulent and misleading SMS information ( like pretending to be from the court) and visit homes, announcing to everyone sundry that the person owes a credit card debt, to the point of even scolding older parents, get hospitalized in turn, causing sleepless nights and giving emotional strains even to youngsters. One sad example was a collector\'s remark to a pregnant woman who cannot pay - I think it is better that that child dies so that you can pay your debt! We do not have any laws on Fair Debt Collection Practices. The nearest we have is Bangko Sentral ng Pilipinas Cir. 454 which enumerates these unethical practices although a reminder is the most there is as penal provision. Calling BSP, Congress and the President!

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