Sadly, a disturbing number of reports and complaints describe harassment as part of Finbro’s debt collection practices. Here’s what you need to know:
Types of Harassment Reported:
- Excessive Communication: Incessant calls, texts, and emails, often starting very early in the morning and continuing late into the night.
- Threats and Intimidation: Threats of legal action, public shaming (contacting friends, family, or employers), or even threats of harm.
- Abuse and Insults: Use of derogatory or insulting language, designed to cause emotional distress and pressure the borrower.
Why This is a Serious Issue:
- Illegal Practices: Harassment in debt collection is a violation of the Fair Debt Collection Practices Act in the Philippines.
- Emotional Harm: These tactics cause significant stress, anxiety, and even reputational damage.
- Desperate Actions: Harassment can push borrowers towards more desperate measures, worsening their financial situation.
What You Can Do If You’re Experiencing Harassment from Finbro:
- Document Everything: Keep detailed records of calls, texts, emails, or any other forms of communication. Note dates, times, and the content of these exchanges.
- Know Your Rights: Familiarize yourself with the Fair Debt Collection Practices Act and consumer protection laws in the Philippines.
- Report to Authorities: File a formal complaint with:
- Securities and Exchange Commission (SEC): https://www.sec.gov.ph/
- National Privacy Commission (NPC): https://privacy.gov.ph/ (if your personal data has been misused)
- Seek Support:
- Legal Aid: Find legal aid organizations that can provide guidance and representation.
- Support Groups: Connect with others facing similar issues for emotional support and advice.
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