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Manila Bulletin devider Business devider The Stock Market devider SEC fines iPeso, Pesoin for using threats, insults to collect from borrowers

SEC fines iPeso, Pesoin for using threats, insults to collect from borrowers

Published Jul 29, 2025 11:57 am
The Securities and Exchange Commission (SEC) has slapped a ₱1-million penalty on Link Credit Lending Investors Inc., doing business under the names and styles of iPeso and Pesoin, for engaging in unfair debt collection practices.
In an order dated July 18, the SEC Financing and Lending Companies Department (FinLend) held Link Credit Lending administratively liable for four counts of violation of SEC Memorandum Circular (MC) No. 18, Series of 2019, which provides for the prohibition on unfair debt collection practices.
From September 2022 to March 2023, FinLend received over 200 complaints against Link Credit Lending for its debt collection practices, four of which are the subject of the order.
Upon investigation, FinLend found Link Credit Lending to be sending messages containing insults that tend to abuse borrowers. It was also found to be sending threats that they would call the borrowers’ emergency contact and co-workers for non-payment of their loans.
MC 18 allows financing and lending companies and their third-party service providers to pursue all reasonable and legally permissible means to collect amounts under loan agreements.
However, it also provides that they must observe good faith and reasonable conduct in exercising their rights and duties, and refrain from engaging in unscrupulous and untoward acts.
“[C]onsidering the facts, circumstances and gravity of the offense committed by [Link Credit Lending], [FinLend] finds that the monetary penalty of [₱1 million] is proper and precise,” the order read.
In addition to the monetary penalty, the company was likewise given a stern warning that any subsequent violations of the MC “will be dealt with more severely.”

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Securities and Exchange Commission Link Credit Lending Investors Inc. iPeso Pesoin
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