| Name of Complainant | |
| Date of Complaint | July 12, 2025 |
| Name(s) of companies complained against | and aggressive harassment tactics—some even contacting personal references (RESPICIO & CO., high interest, Likely Unregistered or Predatory Apps PeraMoo • Multiple borrower complaints: disbursing less than approved amounts, short repayment terms |
| Category of complaint | Cyber Crime |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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I am writing this formal complaint to raise serious concerns against several online lending applications (OLAs) which, to my knowledge and based on my research, are not registered with the Securities and Exchange Commission (SEC) as required by law. These OLAs operate through mobile apps and social media platforms and offer instant loans without sufficient regulatory oversight.
Sometime recently, I availed loans from a few of these lending apps due to urgent financial needs. Initially, they offered fast processing and minimal requirements, which seemed helpful at the time. However, I later realized that these apps are engaging in deceptive and abusive lending practices, such as:
1. Unfair Loan Disbursement: The actual loan amount received is significantly lower than what was approved or agreed upon. Various unjustified fees and deductions were made upfront.
2. Exorbitant Interest Rates: The interest charged is extremely high, often more than 30% within just a few days. This practice goes against the guidelines set by our laws and regulations.
3. Unreasonable Repayment Terms: The repayment period is unreasonably short, sometimes only 7 days or even less, which traps borrowers into a cycle of reborrowing or default.
4. Harassment and Data Privacy Violation: Before the due date, these OLAs resorted to text blasting and incessant phone calls, not only to me but to my contacts as well. They used harassing, threatening, and defamatory language, which caused me psychological and emotional distress. These actions are clear violations of the Data Privacy Act and relevant cybercrime laws.
5. False Remaining Balances After Settlement: I have fully paid and settled my accounts with these lending apps, and I have kept copies of my payment receipts. Despite this, when I checked, there were still alleged unpaid balances recorded, which is both inaccurate and malicious.
I have already uninstalled these applications and ceased all transactions with them. I am now requesting your urgent investigation and intervention regarding this matter. I am also willing to provide the following as evidence:
