Home Credit says it respects SEC but files appeal over debt collection order

Home Credit Philippines said it respects the Securities and Exchange Commission’s (SEC) mandate to protect consumer interests but has formally filed an appeal over the regulator’s recent order involving a debt collection complaint.

In an official statement, the company acknowledged the SEC order and stressed that it “fully respect the SEC’s mandate to protect consumer interests.”

At the same time, Home Credit said it is pursuing the formal appeal process while continuing to comply with existing lending and collection regulations.

“We take all regulatory matters seriously. While we have formally filed an appeal, we continue to maintain strict adherence to all existing lending and collection regulations,” the company said.

Home Credit also emphasized that treating customers fairly and with respect remains fundamental to its operations, adding that it continuously reviews and strengthens its collection practices, including how it engages customers and oversees its collection partners.

The company said these measures are intended to ensure that every interaction meets “the highest ethical standards our customers deserve.”

It also reaffirmed its commitment to responsible and ethical lending, saying it remains dedicated to serving as “a trusted financial partner to the millions of Filipinos who rely on us.”

As the case is now under appeal, Home Credit said it believes the matter should be addressed through the formal process and that it will refrain from making further comments.

In an order released on June 3, the SEC imposed sanctions on HC Consumer Finance Philippines, Inc., the company behind Home Credit Philippines, after finding that it engaged in unfair debt collection practices that violated consumer protection rules. The regulator also ordered the company to pay a P50,000 fine.