A borrower said collectors kept using a third-party home after a written objection; the SEC fined Home Credit

A Philippine borrower complained that Home Credit collection activity took place at a residence occupied by people who were not guarantors or co-makers on the loan. According to the complainant, collection continued at the same residence even after the borrower made a written objection. The Securities and Exchange Commission later found HC Consumer Finance Philippines Inc., known as Home Credit, liable for violating debt-collection rules. The regulator said using a third-party residence as a collection venue creates a substantial risk that a borrower's debt or financial condition will become known to people with no lawful interest in it. The SEC imposed a PHP 50,000 fine for a first offense. It also ordered the company to stop collecting debts from people who were neither guarantors nor co-makers, stop using third-party residences as collection venues, review and revise its collection policies, and submit a compliance report. Where the record stood The public report establishes the SEC finding and corrective order. It does not disclose the borrower's later repayment or account outcome, any separate remediation of the individual complaint, or the later status of the compliance report.