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SEC Philippines: How To File A Complaint Against Lending Or Financing Companies?

10/18/2024

Latest Update: October 18, 2024

SEC Philippines: How To File A Complaint Against Lending Or Financing Companies?

How do you file a complaint with the SEC Philippines?

If you are in the Philippines and have a problem with your debts with a financial company, the Securities and Exchange Commission Philippines (SEC) has issued an update on how to file a complaint.

Starting November 4, 2024, questions or complaints against Financing and Lending Companies and their Online Lending Applications/Platforms (OLAs/OLPs) can be filed through the SEC Imessage Portal, through this link https://imessage.sec.gov.ph

The SEC Imessage Portal is an online portal designed to make it easy and convenient to file complaints against financing and lending companies and OLAs.

For additional information or questions, you can contact FinLenD at the following numbers: 88185990 and 0929-626-3095.

You can also reach the SEC Philippines through its official website: https://www.sec.gov.ph

30 Comments

Charisse Mae T. Peralta

6/25/2023 07:45:07 pm

What if someone from Facebook falsely claims that they are registered with the SEC and threatens me with canceling the loan since they did not inform me that I need to deposit 10% of the loan amount to get the money from them? They also sent a screenshot of the loan agreement with my signature that they got from the documents I sent; they even asked me to go to their office to cancel the loan personally but still need to pay it every month, and another document with my signature regarding the cancellation that was not even sent to us to read and agree. I haven't signed or agreed to anything yet. They have all the documents proving that the company is legit, and when I searched for their company on the list of lenders that I found on Google, I could not find the company name, and they also sent a link that looks exactly like the official website, and their company is now on the list. Their website no longer exsist,

Ralph link

6/25/2023 11:01:05 pm

Hello Charisse, my advice to you is that you better go to the SEC office to confirm that they are registered and explain the circumstances because if they are not SEC registered and they do not have a secondary license from the SEC, what they did is illegal. And why do you need to deposit 10% to get a loan from them right away? Is it for collateral? You also said that you did not sign or agree to anything, is that right?

sonny galpo

7/17/2023 11:50:10 pm

i would like to ask if Smart Investment and & Finance Corporation is Legitimate or not?They have documents to prove they are legitimate and collecting money for loan borrower, and i am one of the victim of this company. I ask them to return back my money when i notice they are scammer and they did no return any single centavo that i send thru their BANK CIMB Bank 20867601326018
CIMB Name: John lloyd Vecina Juanillo. They collected me Php 37K.
Hope this modus of lending company will stop and also on FB many lending company offering their services.

THANKS and best regards.

Ralph link

7/20/2023 07:42:17 am

Hello Sonny, upon searching "Smart Investment and Finance Corporation" via the SEC Check App, https://eramp.sec.gov.ph/, and https://secexpress.ph/application-form, there are no records that show up.

I suggest, visit the SEC office so you can confirm with them.

If you are planning to file a complain, you can read my separate blog post here: http://www.kuripotpinoy.com/blog/what-to-do-if-you-get-scammed-in-the-philippines

vangie link

2/17/2025 04:40:00 am

same experienced.. they asked me to deposit first the 2 months installment in advance and when I cancelled my loan harassment started. they said they will automatic deduct the monthly amortization from my account and i can't cancel my loan

Judie Tseng

7/21/2023 12:56:27 am

Hello sir/ma'am,
My concern is I applied a loan in the company name Excellent Era Lending Corp. I didn't received my loan amount. But company told me to still pay the loan amount plus 10%daily interest if I fail to pay.

In my application form I didn't write my middle initial. And my document I submitrd there is middle initial.
So, to edit the mistake lending company ask me to pay 10k, after completely editing the error, another issue come and ask me to pay again 20k to requesting new otp code, and after that, company ask me to pay 35k for loan insurance, after that ask me again to pay 45k for completing the process. Which I refuse to pay because i don't have money. I want to get loan because I need money but what happened, it's opposite they ask money from me. Now I recieve harrassment and treatent me that their lawyer will sent to my home together the policy I signed thru online and they arrest me. How is that possible if I did not received single money instead I send money to the company.

I hope you can give advice and report company like this

Ralph link

7/24/2023 05:04:30 am

Hello Judie, the SEC warned that those who engage in abusive debt collection practices may now be criminally prosecuted for violation of Section 8(d) of the FCPA.

Rule 8, Section 4.4 of the recently issued SEC FCPA Rules and Regulations (IRR) states that financial service providers and their collection agencies, counsels, and other authorized third-party representatives are prohibited from employing abusive collection or debt recovery practices against their financial consumers.

Rule 15, Section 1 of the SEC FCPA IRR further provides that any person who willfully violates its provisions shall be penalized with a maximum fine of P2 million or imprisonment for five years, or both.

Additionally, financial service providers, including entities engaged in lending and financing, are required to respect the privacy and protect the data of their financial consumers. Such entities are required to inform financial consumers if their data will be shared with third parties.

To see the list of licensed lending and financing companies and their registration status, please visit the Lending and Financing Companies corner on the SEC website at https://www.sec.gov.ph/lending-companies-and-financing-companies-2/lending-companies-and-financing-companies/.

Bess

8/5/2023 07:30:45 am

Sir Ralf, hope you can help me as well how to sue these scam lending company they already took 85k in me and until now I didn’t received my loan. They said if i will get a new otp code i can get the 200k which I applied for loan but they said i need to deposit 20k then my account happened mistake they said so i need to give 40k then they ask me again 25k but only 15k i gave for I don’t have money anymore for otp again then after receiving 15k they said i need to deposit again 20k for my credit score. I want to punish this scam company sir please please do help me. I am begging i need my money back.

Bess

8/5/2023 07:25:53 am

Hi po, thesame happened to me po today. I already sent 85k already to them but still they are asking for additional 20k for credit score. Can someone advice me what to do? Coz i am here in Dubai I don’t know what to do.

Ralph link

8/9/2023 08:16:20 am

Hello Bess! It looks like you were scammed. First of all, why are you the one who needs to give them money? That's why you are taking a loan; you need money yourself. Did you know that there are government agencies that you can approach once you fall victim to a scam? What exactly are these agencies?

📌 Bangko Sentral Ng Pilipinas
A. Mabini Street, Malate, Manila 1004

Consumer Protection and Market Conduct Office Strategic Communication and Advocacy
Email: [email protected]
Direct Line: (02) 5306-2584 | (02) 8708-7087
Trunkline: (02) 8708-7701 loc. 2584
Facsimile: (02) 8708-7088

Report frauds, scams, and abuses relating to products and services of BSFIs. BSFIs refer to Banks, Non-Banks with Quasi-Banking Functions, Non-Stock Savings and Loan Associations, Pawnshops, Foreign Exchange Dealers, Money Changers, Remittance Agents, E-Money Issuers, Money Service Businesses, and Virtual Currency Exchanges under BSP supervision.

📌 Securities and Exchange Commission
Ground Floor, North Wing Hall, Secretariat Building PICC Complex, Vicente Sotto Street, Pasay City 1307

Corporate Governance and Finance Department (Reports related to Lending)
Email: [email protected]
SEC i-Messagemo: http://imessagemo.sec.gov.ph
Telephone: (02) 8818 5476; (+63) 9260170248

Enforcement and Investor Protection Department (Reports related to Investment Scams)
Email: [email protected]
Telephone: (02) 8818-6337; (+63) 961-519-7829;
(+63) 961-684-4088

Report fraud, scams and abuses related to lending and investment with SEC registered companies.

📌 Insurance Commission
1071 United Nations Avenue, Manila

Public Assistance and Mediation Division
Email: [email protected]
[email protected]
Telephone: (02) 8523 8461 to 70 local 103 or 127;(02) 8404 1758

Report concerns about insurance products.

📌 National Bureau of Investigation
NBI Building, Taft Avenue, Ermita, Manila

Anti-Fraud and Action Division
Email: [email protected]
Telephone: (02) 8523 8231 to 38 local 3529 or 3456

Cyber Crime Division
Email: [email protected]
Telephone: (02) 8523 8231 to 38 local 3455; (02) 8252-6228
Complaint and Recording Division
Telephone: (02) 8523-8231 to 38 local 3518

Report investment scams, cybercrime, and other criminal abuses.

📌 Philippine National Police

Anti- Cybercrime Group
PNP National Headquarters
Camp General Crame, EDSA, Quezon City
Email: [email protected]
Telephone: (02) 3414 1560
Mobile: 0998 598 8116

📌 National Telecommunications Commission
NCR office address: BIR Road, East Triangle, Diliman, Quezon City

Consumer Welfare & Protection Division
Email: [email protected]
Telephone: (02) 8920 4464; (02) 8926 7722; (02) 8921 3251

Mirasol

1/25/2024 10:45:39 pm

I did a mistake.. I signed the contract of this company..but I noticed when I searched the seven 23 lending corporation I did not see any amount of money yet in the page of quick loan there's already an amount of 80k.
Then someone assist me to their financial head/personnel.
Then he ask me to deposit 2months of the advance payment for me to get the otp.
My concern is, I gave them my personal details..
I am worried now if they are going to sue me.
I still don't receive the loanable amount yet they ask me an advancement payment of.
My question is, if I'm not going to give them for the advance payment, should I still pay them for the monthly amortization?

Ralph link

1/29/2024 05:46:35 am

Hi Mirasol, beware of the advance fee scams. The SEC recently release an advisory regarding of this modus. Here's the link: https://www.sec.gov.ph/advisories-2024/sec-advisory-on-advance-fee-scams/#gsc.tab=0

For more information, you may also refer to the related article entitled, Common Types of Fraud and Scam: Advance Fee Fraud. Here's the link: https://www.kuripotpinoy.com/blog/common-types-of-fraud-and-scam-advance-fee-fraud

Mae

2/17/2024 06:33:51 pm

Pwde po malaman kung anong company po ito kasi halos pareho ng company na pinag loan ko.

Ralph link

2/20/2024 09:34:57 pm

Hello Mae, I think you're the one who sent an email regarding your loan. Am I right?

Beware of "Advanced Fee Fraud"

Don't be a victim! Advance fee fraud is when fraudsters target victims to make advance or upfront payments. In fact, the Securities and Exchange Commission Philippines issued an advisory regarding this kind of fraud or scam.

📍 What is Advanced Fee Fraud?

An email, fax, or letter from strangers that requires the victim to pay an “advance fee” before receiving a significant share of a large sum of money. The advance payment may be described as a processing fee, tax, commission, or incidental expense that will be repaid later. If a victim makes the payment, the fraudster either invents a series of further fees for the victim or simply disappears.

Advance fee fraud may involve urgent business transactions, inheritance or income windfall, emergency situations, sales of products or services, lottery winnings, or other similar unexpected opportunities.

📍 Remember

👉 Avoid any arrangements with a stranger who asks for up-front and immediate payment, personal information, or account confirmation.
👉 Do not believe in offers or earning opportunities that are too good to be true.
👉 Do not send money, bank, and personal details to anyone you do not fully know or trust.
👉 Don’t be tempted to part with money for deposits or admin fees for prizes or loans. They may not be real.
👉 Don’t be tempted to make advance or upfront payments for goods or services unless you know the trader well.
👉 Don’t be flattered or put under time pressure to make a payment.
👉 If you’re contacted out of the blue about a great financial opportunity, chances are it’s a scam. If it sounds too good to be true, it probably is!

For more information about personal finance, development, and free finance tools, visit www.kuripotpinoy.com/.

roxanne binato

8/1/2023 04:50:18 am

hi gusto coh i reklamo ang d makatarungan ginawa ng online lending apps sobra po sila s pananakot at sobrang taas ng intres ano po ang kailangan gawin gusto ko sila ireklam

Ralph link

8/1/2023 11:30:14 pm

Hello Roxanne, the SEC Philippines warned that those who engage in abusive debt collection practices may now be criminally prosecuted for violation of Section 8(d) of the FCPA.

Rule 8, Section 4.4 of the recently issued SEC FCPA Rules and Regulations (IRR) states that financial service providers and their collection agencies, counsels, and other authorized third-party representatives are prohibited from employing abusive collection or debt recovery practices against their financial consumers.

Rule 15, Section 1 of the SEC FCPA IRR further provides that any person who willfully violates its provisions shall be penalized with a maximum fine of P2 million or imprisonment for five years, or both.

Additionally, financial service providers, including entities engaged in lending and financing, are required to respect the privacy and protect the data of their financial consumers. Such entities are required to inform financial consumers if their data will be shared with third parties.

To see the list of licensed lending and financing companies and their registration status, please visit the Lending and Financing Companies corner on the SEC website at https://www.sec.gov.ph/lending-companies-and-financing-companies-2/lending-companies-and-financing-companies/#gsc.tab=0

You can also read my separate blog post:

How to file a complaint against Lending or Financing Companies?
http://www.kuripotpinoy.com/blog/sec-philippines-how-to-file-a-complaint-against-lending-or-financing-companies

For more information about Personal Finance and Development, visit www.kuripotpinoy.com/

Angeneth monares

8/18/2023 05:38:25 pm

Ma'am/sir Pwedi po ba makahinge ng tulong may inaplayan po akong online lending app (PESO CASH) (PAUTANG PESO) grabi po Yung pananakot nila tinitxt at tinatawagan lahat ng contact ko at sinesend nila pic ko messenger Sana po matulungan nyu ako

Ralph link

8/21/2023 11:08:23 pm

Hello Angeneth! Did you know that the Securities and Exchange Commission Philippines warned that those who engage in abusive debt collection practices may now be criminally prosecuted for violation of Section 8(d) of the FCPA.

Rule 8, Section 4.4 of the recently issued SEC FCPA Rules and Regulations (IRR) states that financial service providers and their collection agencies, counsels, and other authorized third-party representatives are prohibited from employing abusive collection or debt recovery practices against their financial consumers.

Rule 15, Section 1 of the SEC FCPA IRR further provides that any person who willfully violates its provisions shall be penalized with a maximum fine of P2 million or imprisonment for five years, or both.

Additionally, financial service providers, including entities engaged in lending and financing, are required to respect the privacy and protect the data of their financial consumers. Such entities are required to inform financial consumers if their data will be shared with third parties.

To see the list of licensed lending and financing companies and their registration status, please visit the Lending and Financing Companies corner on the SEC website at
https://www.sec.gov.ph/lending-companies-and-financing-companies-2/lending-companies-and-financing-companies/#gsc.tab=0

To see the list of recorded online lending platforms, please visit this link from SEC Philippines: https://www.sec.gov.ph/lending-companies-and-financing-companies-2/list-of-recorded-online-lending-platforms/#gsc.tab=0

You can also read my separate blog post:

How to file a complaint against Lending or Financing Companies?
http://www.kuripotpinoy.com/blog/sec-philippines-how-to-file-a-complaint-against-lending-or-financing-companies

For more information about Personal Finance and Development, visit www.kuripotpinoy.com/

Julie

9/29/2023 12:54:41 am

hello po. I have an experience today na nakatanggap ako ng messages from those OLAs (Pesoloan and OkPeso) and they're also threatening me about my nonpayment of my loans, eh 2 days pa naman po akong delayed. The agents are rude and unprofessional and I also sent an emails sa customer service to explain na hindi pa ako makakapagbayad and I'm willing to settle those balances even with high interest, but the way they even contacted my family and friends saying ayaw ko daw makipag-usap sa kanila. This is absolutely a harassment. This is really traumatising, what to do po?

Ralph link

10/1/2023 10:19:01 am

Hi Julie! The Securities and Exchange Commission Philippines warned that those who engage in abusive debt collection practices may now be criminally prosecuted for violation of Section 8(d) of the FCPA.

Rule 8, Section 4.4 of the recently issued SEC FCPA Rules and Regulations (IRR) states that financial service providers and their collection agencies, counsels, and other authorized third-party representatives are prohibited from employing abusive collection or debt recovery practices against their financial consumers.

Rule 15, Section 1 of the SEC FCPA IRR further provides that any person who willfully violates its provisions shall be penalized with a maximum fine of P2 million or imprisonment for five years, or both.

Additionally, financial service providers, including entities engaged in lending and financing, are required to respect the privacy and protect the data of their financial consumers. Such entities are required to inform financial consumers if their data will be shared with third parties.

To see the list of licensed lending and financing companies and their registration status, please visit the Lending and Financing Companies corner on the SEC website at
https://www.sec.gov.ph/lending-companies-and-financing-companies-2/lending-companies-and-financing-companies/#gsc.tab=0

To see the list of recorded online lending platforms, please visit this link from SEC Philippines: https://www.sec.gov.ph/lending-companies-and-financing-companies-2/list-of-recorded-online-lending-platforms/

Vanessa link

10/26/2023 06:26:48 pm

Hi Sir,

Can I ask for assistance.
When I open my account in TALA (an OLA), I already have an existing loan which I never perform. I immediately emailed their support desk for support. They said that it is already issued to a certain gcash number (which is not mine).

I asked for assistance but my ticket is already closed. I tried opening certain tickets for the same reason but I did not receive any help or assistance.

What to do in this situation? Am I obliged to pay for the loan that I did not even received?

Ralph link

10/31/2023 11:16:22 pm

Hello Vanessa, no, you shouldn't pay for a loan that you don't own. Why will you pay for a loan that you don't own? If there's no answer or any update from them after attempting several times to raise a ticket, close your account and uninstall the app.

You may also consider reading this topic: http://www.kuripotpinoy.com/blog/considerations-to-make-before-borrowing-from-licensed-online-lending-platforms

12/27/2023 11:53:32 am

November 28, ng reach out po ako sa Value Lend Corp para matulungan ako sa hnhiram kong pera. Ng check ako sa SEC at listed naman po sila. Ang process po nila ay smooth nmn not until naghingi po sila ng payment. Alam ko po na mali na ngtiwala ako pero sobrang desperate ko po nun kaya na dala ako. Ganon din po may mga kasabay ako na nagloan na na process nila kaya naniwla ako.

Ang unang payment na hiningi po nila is proof daw po ng repayment ability nmn.
26,222

Second payment: ngkaron daw po ako ng issue sa account so i have to pay para maunlock accout ko. Amount is 80k pero tulungan daw po nila ako kaya 53,778 nlng pinabyad

Third payment: bumaba daw po ang credit score ko kase ngkamali sa unang transaction so need ko pataasin ang score by paying. 32,890

4th payment: need ko daw magbayad ng tax to release the amount as per govt which is 153867 pesos pero shoulder daw nila ung 60% na 92,320 so ngbayad ako ng 61,546

Last payment: naghihingi daw ng insurance si bank kase msyado malaki ung amount ko. Which is 40,000
Hnd ko na po to binayad.

In between these payment sir, i was assured na un na last step to release everytime. Pero lagi may problema afterwards. I have asked them na refund nlng lahat ng bngay ko at dko na need manghiram sa knila pero hnd daw nila maggwa. I have tried to call sec pero hnd po nila ako mahelp.

Sinabi pa nga po nila na kht mgreklamo daw ako sa sec at sa inyo eh ng cocomply naman sila.

Ng delete na po ng account ung loan assistant na kausap ko.

Pano ko po makuha mga nabayad ko?

Ralph link

12/28/2023 10:36:29 am

Hi G, just for clarification, I am not connected to the SEC Philippines or any Philippine government agencies. What did the SEC PH tell you when you consulted on your problem? My advice to you is to physically visit the SEC Headquarters at 7907 Makati Avenue, Salcedo Village, Bel-Air, Makati City, 1209.

Cris

1/12/2024 01:36:33 am

Hi, My inaapplyan ako through online, my nakakachat sa messenger. Security Online Inc, and then nagproceed for the process my senend siya na link: lingpautang.co.in, so nagupload ako ng mga info ko doon, and then yung wallet is approved 50k, and then pinapamessage ako sa telegram to have the OTP to withraw, and nakutuban ako na baka scam, after that I would like to cancel na, tapos sabi need ko daw pumunta sa office to cancel and delete my information pero since approved daw sa wallet ko, need ko parin bayaran for the damage daw. so sabi ko I will proceed, pero until now I haven't have the OTP from them. what if ginagamit na nila yung information ko. Yung prinovide nilang company registered naman sa SEC. what will be the best pona gagawin ko?

Ralph link

1/22/2024 07:09:45 am

Hi Cris, regarding your concern, my advice to you is to physically visit the SEC Headquarters at 7907 Makati Avenue, Salcedo Village, Bel-Air, Makati City, 1209.

reymond link

2/27/2024 11:24:19 pm

bka po pede mkahingi ng tulobg about sa loan q sa pesoQ ngloan po ako dn gsto q icancel ung loan q kc gabe aq ngfile nggabe dn n un ngtxt ako to cancel my laon manytumes pero d po nila pinansin at proceed pdn loan 2500 po laon peo ntanggap q po 1850 sana po may makatulong hndi q nmn ngamit peo kea ko pinapacancel

Ralph link

3/2/2024 06:02:50 am

Hello Reymond, much better to reach them po and explain po yung nangyari. Dapat din po aware din kayo sa terms and conditions bago po kayo nag-final decision to proceed.

KAYE link

3/4/2024 09:01:44 am

Hello po, good evening. Mag aask po sana ako ng advise kung ano pong pwedeng gawin sa ETOMO lending company/app na inapplyan namin ng partner ko. Matagal na po namin ginagamit yug app, lately po, nung nag update sila ng name from Lenpinoy to Etomo, nagulat po kami sa taas ng interest rates nila, dati naman po tama lang. Since kailangan po namin nung emergency cash last Aug. 2023, nanghiram po kami ng 50k and nag momonthly po kami ng 7,196.00, payable for 12 months po. Nag kakaroon man po kmi ng delays sa payments nitong nakakaraan, pro days lang po and na sesettle po namin lagi with their additional interest/late fees. Ngayon pong Feb. 29, yung next namin na installment, nag email po ako sa knila na madedelay lang po yung payment ko kasi nadesolved yung account ng partner ko and nawalan po sya ng work, may 2 kids po ako and nag rerent lang po kami. So hndi po kaya ng salary ko alone yung lahat ng bills. Kaya po nakiusap ako sa kanila via email. Gumawa po ako ng promisory. Pero patuloy pa din po ang pag call nila, pag tetext and pag contact sa mga contacts ko sa phone ko. Then today po, may field collection officer po silang pinapunta sa office at nirerentahan ko at talagang nanghaharas po sa pangungulit na bayaran ko daw po yung loan ko ng buo dahil may rights daw po silang daanin sa ganun yun at legal na paraan. Hindi po nila hinonor yung promisory ko. May pwede po ba akong gawin para ireklamo ang panghaharas nila? At ipapa barangay na daw po nila ako bukas para may witness sa usapan. tama po ba ito? Never naman po akong pumalya sa pagbabayad namin. Please help po. Thanks

Kaye link

3/13/2024 07:06:05 am

Hi Kaye, the SEC Philippines warned that those who engage in abusive debt collection practices may now be criminally prosecuted for violation of Section 8(d) of the FCPA.

Rule 8, Section 4.4 of the recently issued SEC FCPA Rules and Regulations (IRR) states that financial service providers and their collection agencies, counsels, and other authorized third-party representatives are prohibited from employing abusive collection or debt recovery practices against their financial consumers.

Rule 15, Section 1 of the SEC FCPA IRR further provides that any person who willfully violates its provisions shall be penalized with a maximum fine of P2 million or imprisonment for five years, or both.

Additionally, financial service providers, including entities engaged in lending and financing, are required to respect the privacy and protect the data of their financial consumers. Such entities are required to inform financial consumers if their data will be shared with third parties.

To see the list of licensed lending and financing companies and their registration status, please visit the Lending and Financing Companies corner on the SEC website at https://www.sec.gov.ph/lending-companies-and-financing-companies-2/lending-companies-and-financing-companies/?fbclid=IwAR1FQrC5oQsfDNVeqwY3cCTbpupKdncf2magG0AvZXoEME7seQl68dPRoH0#gsc.tab=0

You may also follow the steps in this article on how to file a complaint.