The Philippine Securities and Exchange Commission issued an order imposing a PHP 1 million administrative penalty on Link Credit Lending Investors Inc., operating as iPeso and Pesoin, for unfair debt collection practices prohibited under SEC Memorandum Circular No. 18, Series of 2019. The SEC Financing and Lending Companies Department found the company liable for four counts of violations following an investigation into complaints about its collection conduct, including sending messages containing insults and threatening to contact borrowers’ emergency contacts and co-workers for non-payment. The department reported receiving more than 200 complaints between September 2022 and March 2023, with four cases forming the basis of the order, and warned that any subsequent violations would be dealt with more severely.
Philippine Securities and Exchange Commission 2025-07-29
Philippine Securities and Exchange Commission fines Link Credit Lending PHP 1 million for unfair debt collection practices
The Philippine Securities and Exchange Commission imposed a PHP 1 million penalty on Link Credit Lending Investors Inc. for unfair debt collection practices, violating SEC Memorandum Circular No. 18, Series of 2019. The SEC's investigation revealed over 200 complaints, with four cases substantiating the order, and warned of harsher penalties for future violations.