At the time, credit card companies used third-party collection agencies to harass delinquent credit card holders. “This program will help steer members away from loan sharks and other high-cost, predatory lending schemes, while promoting responsible borrowing,” he said. Under the proposed framework, the SSS will partner with participating banks and financial institutions to deliver the program through their digital platforms. The SSS will still finalize the program guidelines, systems integration, and partnerships with participating banks. Unfortunately, this practice continues and only vigorous insistence and doing the proper math can force the establishment to do the proper calculations.

Source: Philippine Star January 04, 2026 16:39 UTC