Tag: credit

Online lending company raided by police for threatening clients

Online lending company raided by police for threatening clients

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Are you a Philippine resident who borrowed money from an online lending company and got threatened by them to push you into paying them back? Another company that lends money got raided by the police over complaints from clients who claimed they were threatened, according to a Manila Bulletin news report. The raided company was located in Pasig City.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news article. Some parts in boldface…

An online lending company in Barangay San Miguel, Pasig City was raided by operatives of the Philippine National Police – Anti-Cybercrime Group (ACG) on Tuesday, May 16, for allegedly threatening and harassing its customers who have failed to pay their loans.

The company was identified as Realm Shifters Business Process Outsourcing Services, located along Mercedes Avenue in Barangay San Miguel.

According to the Philippine Association of Loan Shark Victims Inc. (PALSVI), a non-profit organization dedicated to helping loan shark victims, the company is one of the many businesses operating online lending applications (OLA) that harass and threaten users for not paying their debts.

The PNP-ACG conducted the raid in response to the complaints made to their office from the victims of the OLA.

A warrant to search and seize computer data was served by the police to the company during the operation.

Digital forensic examinations to extract data and evidence from the computers, mobile phones, and other devices of the OLA agents are ongoing.

Other incidents of malpractice made by the company are also under further investigation by the police.

Let me end this piece by asking you readers: What is your reaction to this recent development? How many people in your local community got harassed by an online lending firm recently?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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COVID-19 Crisis: Muntinlupa City loans P1 million to a local cooperative

COVID-19 Crisis: Muntinlupa City loans P1 million to a local cooperative

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The City Government of Muntinlupa yesterday provided a P1,000,000 loan to assist local business Salon de Ayala Service and Credit Cooperative in a bid to help businesses within the city’s jurisdiction to recover from the economic disruption brought about by the COVID-19 pandemic.

Mayor Jaime Fresnedi signed a memorandum of agreement with Salon de Ayala head Pam Godinez and Cooperative Salon De Ayala chairman Angeline Teodoro (3rd from left) for the loan assistance last September 18. Also present during the signing were City Cooperative Officer Cynthia Viacrusis and Coun. Eliot Martinez. The mayor assured business owners in Muntinlupa City of the City Government’s continuing concern and support during these trying times.

Muntinlupa City champions MSME development through various programs including the Tulong Negosyo program (formerly Dagdag Puhunan program) which offers zero-percent interest loan assistance from 2,000 to 150,000 pesos. As of September 17, Muntinlupa City has 3,967 confirmed cases with 3,188 recoveries, 649 active cases, 130 reported deaths, 452 suspect cases, and 581 probable cases.

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Latest City Government of Muntinlupa details sourced from their official media release. Some parts were edited for this website.

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