MB FileThe Bangko Sentral ng Pilipinas (BSP), banks and their credit card units have put in place an inter-bank debt relief program (IDRP) to prevent delinquent payments and assist cardholders with financial problems settle their dues.
The IDRP, which was officially launched this month, will cover only credit card debts for now but would include unsecured personal loans later.
The BSP with members of the Credit Card Association of the Philippines (CCAP), including BDO Unibank Inc., has set up the debt restructuring program for problematic credit cardholders. Its purpose is to help highly indebted and financially distressed (but well meaning) customers get back on track towards responsible cr…
Read the full article at: http://www.mb.com.ph/debt-relief-schemes-for-credit-cardholders-in-place/