MIRIAM SEEKS END TO ABUSIVE CREDIT CARD PRACTICES
Sen. Miriam Defensor Santiago filed two bills that she said would address consumers’ complaints against abusive practices by credit card companies.
Her Senate Bill No. 3315 seeks to prohibit retail stores from imposing surcharges, extra charges, or additional charges over and above the price tag on the consumer goods and services.
“Its main purpose is to make retail stores use only one price tag for every product they sell. It also makes the stated price on the tag the same for all customers, whether they are paying cash, credit card, or debit-ATM card,” Santiago said.
Santiago’s bill is derived from the Department Administrative Order No. 10 issued by the Department of Trade and Industry, and the senator said that her bill seeks to give the department order a more permanent status rather than its present form.
“This would ensure stability in its enforcement. The bill also increases the penalties provided in the order, and it includes other methods scheming retailers use to circumvent DAO No. 10,” Santiago said.
Santiago, who filed almost one-fifths of all Senate bills in the Fourteenth Congress, also called for the passage of S.B. No. 3292 which prohibits the delivery of any credit card application, pre-approved written solicitation, or credit card to people under twenty-five years old.
According to Santiago, the availability of credit cards coupled with a young person’s lack of financial experience can easily lead to an accumulation of an overwhelming amount of debt.
“In times of financial crisis, it is despicable for credit card companies to take advantage of the inexperienced youth unprepared for financial responsibility. This abusive practice must be put to an end,” Santiago said.
Her Senate Bill No. 3315 seeks to prohibit retail stores from imposing surcharges, extra charges, or additional charges over and above the price tag on the consumer goods and services.
“Its main purpose is to make retail stores use only one price tag for every product they sell. It also makes the stated price on the tag the same for all customers, whether they are paying cash, credit card, or debit-ATM card,” Santiago said.
Santiago’s bill is derived from the Department Administrative Order No. 10 issued by the Department of Trade and Industry, and the senator said that her bill seeks to give the department order a more permanent status rather than its present form.
“This would ensure stability in its enforcement. The bill also increases the penalties provided in the order, and it includes other methods scheming retailers use to circumvent DAO No. 10,” Santiago said.
Santiago, who filed almost one-fifths of all Senate bills in the Fourteenth Congress, also called for the passage of S.B. No. 3292 which prohibits the delivery of any credit card application, pre-approved written solicitation, or credit card to people under twenty-five years old.
According to Santiago, the availability of credit cards coupled with a young person’s lack of financial experience can easily lead to an accumulation of an overwhelming amount of debt.
“In times of financial crisis, it is despicable for credit card companies to take advantage of the inexperienced youth unprepared for financial responsibility. This abusive practice must be put to an end,” Santiago said.
posted by MDS @ 10:48 AM
6 Comments
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6 Comments:
whatever negative things other people say about you, i believe in you. DI LANG SILA MKAPAG ISIP N KASING BILIS NINYO.
REGARDING PO SA CREDIT CARD BILL NA INIHAIN NYO, SANA PO MAIPASA NA AT MAIPA TUPAD NA. DI PO MASAMA MANGUTANG BASTA MARUNONG MAGBAYAD. PERO YUNG MGA AGENTS NG MGA CREDIT CARD COMPANY KADALASAN NANG HAHARASS PO TALAGA KAHIT DI IKAW YUNG MAY UTANG. IM WORKING IN A MALL, THRE ARE TIMES I ANSWER THE FONE. MAY MGA TUMATAWAG PO N COLLECTION DEPT DW OR LAW OFFICE AT HINAHANAP YUNG MGA DATING EMPLEYADO. PAG SINABI PO NA NOT CONNECTED NA IPIPILIT PA RIN NILA AT SASABIHIN NA ITINATAGO DAW YUNG TAO, AT HUMAHANTONG SA POINT NA BINABASTOS NA YUNG NKASAGOT NG FONE. THERE ARE INSTANCES NA THEY ARE THREATENING THE ONE WHO ANSWERS THE FONE. SANA PO MAIPASA NA YAN PARA MAKASUHAN DIN YUNG MGA NANAKOT SA FONE, LALO NA HINDI YUNG MAY UTANG ANG TINATAKOT NILA.
Madam Senator,
Sana po matulungan nyo kami sa mga collector ng credit card dahil sa panghaharass nila, ung mom ko muntik ng ma heart attack dahil sa panghaharass na ginawa ng mga collector na ito, pagkapahiya sa mga kapitbahay, pang iinsulto, pambabastos sa parents ko ang inabot ko sa kanila, gusto ko naman po magbayad kaso nagkaroon ng financial problem, pero sa ginawa nila naaawa pa po ako s asarili ko kung magbabayad pa ako sa kanila sa ginawa nilang panghaharass sa family ko, thanks larryboy
binabastos po nila pati officemate ko, hinihiya sa mga ka officemate ko, hindi na po kc makatao ang mga ginagawa nila, alam ko po kayo ang makakatulong sa amin na biktima ng mga collector na yan
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We have formed Diskarte Pilipinas as an advocacy group for Credit Card defaulters harassed by abusive collectors,in the absence of concrete steps by banks and BSP to address this issue.
Wishing for speedy approval of your bill/s.
n.b.
previous comment deleted.
double posts.
Sana maipasa na ang credit card bill na naipasa nyo. May mga establishment na nagpapatupad ng minimum amount para magamit ang credit card sa knilang establishment. Pakiramdam ko po ito ay isang harassment at panlalamang sa kapwa. Gusto ko pong pangalan ang mga establishment na ito: sm supermarket, president restaurant,burger king,max's restaurant,pc madness(additional 5% charge).Sana po ay matapos na ang kanilang panlalamng sa kapwa pilipino.
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