NextGen Day

Despite the epidemic, banks continue to appreciate their borrowers’ predicament, according to BSP Governor Benjamin Diokno, who cited decisions on complaints submitted with the central bank.

Diokno said in a video briefing on Friday that although debt collection and credit card loan restructuring requests accounted for just 3% of the over 12,000 consumer complaints received in the first half of the year, nearly one-third, or 31%, were “resolved in favor of the customer.”

According to him, 32% of the total is still being evaluated and coordinated with customers, while 21% is still awaiting action or response from the financial institutions involved.

He noted that approximately 13% of complaints were not addressed in the customers’ favor.

These figures, according to Diokno, indicate that banks and borrowers “conduct direct coordination” and “find common ground in settling their commitments.”

Banks, he added, are “mostly open to discussion.”

“Even with the current difficulties that their clients are experiencing, banks are making concessions to their clients by waiving or reducing fees, interest, and penalties; implementing a more favorable payment scheme; providing options, particularly for payments made through post-dated checks and auto-debit or auto-deduct arrangements; and granting extensions or adjustments of loan maturity,” he continues.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

Need to get in touch?

Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. Simple Ways To Say Thanks & Support Us:
1.) GIVE A TIP. Send a small donation thru Paypal
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---