The Philippine Securities and Exchange Commission fined HC Consumer Finance Philippines Inc. PHP 50,000 for unfair debt collection practices, its first offense under rules implementing consumer protection requirements. The company was found to have pursued collection at a third-party residence occupied by people who were neither guarantors nor co-makers, despite the borrower’s written objection. HC Consumer Finance must stop collecting from individuals who are not guarantors or co-makers and cease using third-party residences as collection venues. It must also review and revise its collection policies and procedures and submit a compliance report to the commission.
2026-06-17Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission fines HC Consumer Finance PHP 50,000 over unfair debt collection
The Philippine Securities and Exchange Commission fined HC Consumer Finance PHP 50,000 for pursuing debt collection at a third-party residence involving people who were neither guarantors nor co-makers. The company must stop these practices, revise its collection policies and submit a compliance report.