Complaints

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Simula 04 November 2024, ang mga katanungan o reklamo laban sa mga Financing and Lending Companies at kanilang mga Online Lending Applications/Platforms (OLAs/OLPs) ay maari lamang I- file sa pamamagitan ng SEC Imessage Portal, sa link na https://imessage.sec.gov.ph/.

I. IMPORTANT POINTERS

IMPORTANT: Only registered Lending Companies and Financing Companies with Certificates of Authority to Operate as a Lending/Financing Company (CA) may become respondent/s to your complaint. For complaints against individuals/companies engaging in lending activities without CA, please send your email to Enforcement and Investor Protection Department at [email protected]
	Complaints that are insufficient in form and in substance may cause the outright dismissal of your complaint. To avoid that:
		1.	Always fill out the Complaint Form completely and accurately.
		2.	Do not forget to attach all relevant documents/evidence/proof to support your complaint.
		3.	Submit ONE COMPLAINT FORM PER RESPONDENT COMPANY.
		4.	Provide us with a valid government issued I.D.
		5.	Do not forget to provide evidence/proof that you have exhausted all remedies against the company concerned before filing your complaint with the SEC.

II. WHAT ARE THE ISSUES THAT MAY BE RAISED IN MY COMPLAINT?

You may raise the following issues in your complaint:
–	Violation of Republic Act No. 9474, or the Lending Company Regulation Act of 2007 and its Implementing Rules and Regulations
–	Violation of Republic Act No. 8556, or the Financing Company Act of 1998 and its Implementing Rules and Regulations
–	Violation of Republic Act No. 3765, or the Truth in Lending Act
		A financing or lending company violates TILA when they do not provide their borrowers with a Disclosure Statement prior to the consummation of the loan transaction.

What if my complaint does not involve any of those issues?

If your complaint does not involve any of the issues mentioned, we may do any of the following, depending on our Department’s assessment of your complaint:
–	Endorse your complaint to other government agencies, e.g. National Privacy Commission, Bangko Sentral ng Pilipinas, Department of Trade and Industry, etc.

For complaints involving data privacy breach/unauthorized access to contacts, please visit https://www.privacy.gov.ph/ for more information.

–	Endorse your complaint to other departments in the Commission, e.g., Enforcement and Investor Protection Department (EIPD), Markets and Securities Regulation Department (MSRD), etc.
–	Furnish the financing company or lending company with a copy of your complaint for its answer/comment
	You may also consult your lawyer so that the facts and circumstances of your complaint may be reviewed and that you may be advised of the remedies available to you against the financing company or lending company.

NOTE: The Commission CANNOT do any of the following:
–	Change the terms of the loan contract, including the payment terms
–	Declare that the interest rate is null and void for being excessive
–	Declare that the loan contract is void
–	Cancel/settle your loan obligation

III. HOW DO I FILE A COMPLAINT?

PAG FILE NG REKLAMO LABAN SA MGA FINANCING AND LENDING COMPANIES AT KANILANG MGA ONLINE LENDING GAMIT ANG SEC IMESSAGE PORTAL

IV. WHAT HAPPENS WHEN I FILE A COMPLAINT?

Upon receipt of the accomplished Complaint Form, our Department will evaluate it together with all the evidence/documents you attached to support it.
A copy of your complaint will be sent to the financing company or lending company for its answer/comment. They are given ten (10) days from receipt to give their answer/comment.
Our Department will evaluate the financing company/lending company’s answer/comment and may do either of the following:
–	Require you to file your Reply to the financing company/lending company’s answer/comment
–	Close and terminate the complaint if, in their assessment, the issue has been resolved.
If our Department finds sufficient grounds that warrant the commencement of an administrative action against the financing company/lending company, we will issue a Formal Charge and proceed against the financing company/lending company in accordance with the 2016 Rules of Procedure of the Securities and Exchange Commission.

LENDING COMPANIES AND FINANCING COMPANIES

I. IMPORTANT POINTERS

II. WHAT ARE THE ISSUES THAT MAY BE RAISED IN MY COMPLAINT?

III. HOW DO I FILE A COMPLAINT?

IV. WHAT HAPPENS WHEN I FILE A COMPLAINT?

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