"x x x.
In case, you are not aware that consumers have rights.
Here's a dummy’s guide:
1. Creditors can only claim against the estate of a dead person, not their children or spouses or others they have left behind. The estate refers to whatever belongings they leave behind whether properties or investments or businesses. If there’s none left, tough luck. Creditors will just have to write off the debt.
2. Borrowers, even those who are in default, are entitled to civilized conversations. They can complain against collectors who use bad words, call them at work and inform officemates about their debt, or threaten them to go to jail.
3. Borrowers can request for collectors’ name and the company they represent.
4. Borrowers can file a formal complaint against nasty debt collectors with the financial institution that hired them or to the regulator, which is the Bangko Sentral ng Pilipinas.
I’ve done interviews with insiders in the debt collection business and I know what it’s like inside. Please stand above the filth. Society needs your service. This service has earned its place in the economy because of rising loan defaults and the lack of functioning credit bureaus. But you can do it so much better than the way it is being done by most debt collectors right now.
x x x."
