Friday, May 13, 2011

BSP Cir. 702 Series of 2010

Collector: M'am, Sa Coercion Agency ito. ano po ang plano sa utang ninyo?
M'am : Sir, wala pa po akong natangap na endorsement ng Shitty Bank
na kayo ang AUTHORIZED collection agency. Puende antayin natin?

-end of conversation-

BSP Cir. 702
Series of 2010

1.Inform CC Holders that their accounts will be endorsed to a collection agency at least seven (7) days before actual endorsement;
2. Requires banks to implement procedures so that collectors shall IDENTIFY themselves ( no more Atty. Collector or Tenyente Guevarra) ;
3. Penalties : first offense - Reprimand of Director/Officer ( Vice President?)
4. Effective: Jan. 1,2011 ( more or less)


Credit card users urged to report abusive collectors
01/24/2011 | 07:11 PM

Acting Deputy Director/Head
Financial Consumer Affairs Group
Central Supervisory Support Subsector
Bangko Sentral ng Pilipinas
Mabini, Manila consumer

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