Comments on: One Scary Look at RA 9510, Credit Information Act

By: hindunesia

hindunesia — Tue, 23 Dec 2008 05:04:54 +0000

heto na ang texto ng bagong batas
http://mayaman.org/blog/index.php/philippines-news-and-issues/2008/11/credit-information-act-ra-9510-full-text/

By: gNobaBY

gNobaBY — Fri, 14 Nov 2008 03:00:40 +0000

my comment:

meron namang Credit Agency na dito sa Pilipinas kahit wala pa itong batas na ito. Ito yung CMAP o Credit Management Association of the Philippines. Mga banko at lending companies ang karamihan sa member dito. Dito kumukuha ng info ang mga banko at lending companies sa mga papautangin nila. Naka record dito kung may tumalbog kang tseke o hindi nababayaran na credit card bills o iba pang loan obligation.

Kung credit driven ang business mo (na karamihan naman ganun) malaking bagay itong CMAP dahil magiingat ka talaga na hindi madungisan ang record mo dito dahil kung hindi, marereject ka lang ng bangko at mapupunta ka na sa informal lending company na napakataas ng interest rate.

tungkol naman sa batas na ito, tingin ko na minimal lang mapulitika ito dahil iha-handle ito ng SEC chairman. Tignan mo palakad ng SEC, wala o kaunti lamang ang pulitika at kurapsyon at ang tiwala ng mga listed company sa kanila ay napakataas.

By: reynz

reynz — Fri, 07 Nov 2008 04:11:13 +0000

considering the corruption, the manipulation and what the powers can do to wrest certain things out there to their advantage which we have already seen time and again – over and over – i am always wary when sweeping “powers” rests on one agency. although it is a step in the right direction, the Philippines is one of a kind and the people on these positions are certainly something something of a kind that i can’t fully trust. i still believe in controls or otherwise another credit bureau to compete with the CICC. This way there is going to be a counterpart to double check what the other reports. But yeah, I couldn’t agree with you more, which I have already said in my post. With the Philippines having no credit bureau in this day and age? Pathetic. It’s about time.

reynz’s last blog post..Bloggers holy grail?

By: reynz

reynz — Fri, 07 Nov 2008 04:06:11 +0000

thank you for the link. reynz's last blog post..Bloggers holy grail?

By: Joaquin de Guzman

Joaquin de Guzman — Fri, 07 Nov 2008 02:29:09 +0000

I personally run a business in which I sell products on credit to many customers. We offer credit based solely on our historical experience with our clients, because we have no other data to use. Any new customers that we work with will receive very little credit, since we have very little information about them.

This limited information on our customers translates into a 1-2% non collection rate, which costs our Company a lot in terms of collection expense, legal fees ect. This is a huge cost of our operations.

I applaud the Credit Information Act because it is definitely a major step in the right direction to reduce the cost of doing business. This type of act helps business reduce risk and increase visibility into operations. The Philippines needs these type of improvements in its business climate in order to eventually graduate from emerging economy status.

I agree that their will be issues that need to be refined after the process is underway, but by no means should we feel as though this Act is a conspiracy to further consolidate power in the Presdidency. That is ludicrous.

By: chalk-nut

chalk-nut — Wed, 05 Nov 2008 19:15:10 +0000

Please watch this YouTube video to know more about the complications of having several credit reporting agencies operating:
http://www.youtube.com/watch?v=d339W1_ZpiI

By: reynz

reynz — Tue, 04 Nov 2008 14:30:14 +0000

Where else would I base my opinion but on the current information which is called “NEWS”. You’re telling me that the “NEWS” is wrong.

I’d be happy if you send me the link of the bill so I could read them.

By: mindy segismundo

mindy segismundo — Tue, 04 Nov 2008 14:20:51 +0000

You know you just based your comments on a news report/press release. Please read the entire law first before you comment and be suspicious.

Contrary to what you think there are parts of the bureaucracy that are very professional. Try visiting the SEC, DTI, BSP, CITEM, NEDA during your free time for a change.

By: reynz

reynz — Mon, 03 Nov 2008 21:06:11 +0000

mapapagalitan na naman akoooooooo!!! hahaha!!!

By: Louie G.

Louie G. — Mon, 03 Nov 2008 09:15:46 +0000

Got here searching for RA9510. Thank you for your opinion. I agree with you. I might copy what you wrote in my class project. Cheers.

By: reynz

reynz — Mon, 03 Nov 2008 06:03:52 +0000

it’s good but i have some doubts given that again the power is going to be held by the CCIC

By: lucresia

lucresia — Mon, 03 Nov 2008 05:08:38 +0000

nabasa ko nga to sa inquirer kahapon ata at mukhang maganda para matigil na tong 5-6 sa tabi tabi na marami nang nadale, pero parang sang-ayon ako sa kuro kuro mo tungkol sa kompetisyun ngayon ko lang nakita na baka nga plantsado na naman ang mga score nang mga nakaupo dahil iisa lang pala ang magbibigay nang credit information.