Serious talks: Social Concern:Credit

“Credit is part of Life.” – a common adage!

Yes, yesterday, today, and tomorrow, credit is part of our lives. This is why in accounting there are “Assets” and “Liabilities” and will always be present at all times because this has been a way of economics. Whether we like it or not, it is part of our dealings.

I’ve read a post about “credit” and I’d like to give an open option. Although in general terms and ideas “credit is bad” because we incur and pay interests. In my experience in life, “credit is needed” because… Salary is always short for the majority of Filipino workers, so the never-ending cycle begins. Since the 80s/90s. It was because opportunities for us to work with good pay were really scarce. So “credit” has become a part of life. I mean who am I to judge? No say here, I am just presenting an "open option".

20 years after… “credit is still part of life!”, all the more. Why? Obviously, the easier the purchase, the more purchases. During our years, credit wasn’t used to buy nice things but was due for “school” that the future actually enables us to find our jobs and now, we are professionals. It was basically used to support basic needs, not because we need to buy something we “want”, it was actually for our needs.

Unfortunately, the course of “credit” hasn’t changed but priorities have been. While people were earning a lot these days, the more credit they use. Unfortunately, it is already a rare occasion these days that credit is used for “needs” like medicine, food, and school. It’s mostly used for their personal preference.

While there are victims of “scammed” transactions, the victims who innocently trust a company with complete registration and with authority to operate, fall prey to these companies. Unfortunately. I have read about their stories and sadly the threats and vexing are nothing short to describe. Their contact list and references’ privacy were extremely violated to the point of constant messaging and calling. Constant, as early as 6:04am in the morning to as late in the evening.

Extreme to the point that even misrepresenting government agencies intimidates users. Yes, like siting a LAW that intends to break a loaner’s state of mind or case is already filed against you, is something they don’t hesitate in doing. Another strategy is siting using the same government agencies to shatter a debtor’s state of mind compelling them to download another app. Misrepresenting like CIC – an agency that governs the collection of data, responsible for your credit score. Others find it to humiliate the debtor by naming the debtor “ESTAFADOR/SCAMMER/UTANGERA(O)” sent to their ‘CONTACT LIST’ on their phonebook and if they find you on FB, they send in your chat groups and if you FB is open for tagging, they tag you in. Look into the friend list to further humiliate the debtor. Pity? Isn’t it?

Unfortunate isn’t it? When is the truth of it? Upon visiting PAO (Public Attorney’s Office), as explained, the debtor is only liable for “SUM OF MONEY” and nothing more. The attorney was a bit exasperated with the simple explanation because there have been a lot of victims who are now scared because of the threats. Many of which are just too small, less than 10K at least. While others who continued to use the apps incurred so much amounting to 50K. Not so wise? Yes indeed but who am I to judge them? Actually, I pity them. While the threats are supposed to be addressed by PNP/NBI ANTI-CRIME group while the “PRIVACY ACT” complaint should be sent to NPC.

Well, for now… This is it. Will be doing some writing about this. Informative? Well, I wish to convey serious writing about the walks of life, especially to those who are rendered helpless and find solace in something I’ve written with substance. Well, I am no longer young and at this age, I should be seriously talking about life and sharing something like this with my predecessor!

Wow! So serious sister! Hahaha! I shouldn’t really be talking about travels when there are a lot of those who write about that already. While many don’t tackle some issues in life or their interest is just somewhere else!

Thank you for the read. ‘til the next article. Published too on MEDIUM

Sept 15, 2022
Image: pinterest