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    Date: 2022-08-10 03:08:31.617043

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    Date: 2022-08-10 16:52:07.142299

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XLKASH: Over Collection of Interest

Requested from BIR by M. TABILID at 03:08 AM on Aug 10, 2022.
Purpose: HAVE THIS ONLINE APP BE INVESTIGATED AND PENALIZED FOR EXCESSIVE AND UNREASONABLE CHARGES TO DEBTORS
Date of Coverage: 07/25/2022 - 08/09/2022
Tracking no: #BIR-799869613631

TABILID 03:08 AM, Aug 10, 2022 

Hi I would like to ask if you could please investigate XLCASH ONLINE LENDING APP used to their clients. Excessive interest rates and unreasonable fees are charged to their debtors.

LOAN AMOUNT 10,250
ISSUED AMOUNT 6,150
SERVICE FEE 4,100
INTEREST 922.50
OVERDUE FINE 512.50
APPLICATION DATE 07-25-2022
DUE DATE GIVEN 08-01-2022

This app uses ALL the contacts in my phonebook without my permission, and text them messages asking them to pay the loan that is not theirs. And making false statement that they are my comaker and they need to pay the unpaid loan that I have.

Du 04:52 PM, Aug 10, 2022 

August 10, 2022

Dear MICHELLE TABILID:

Greetings!

Thank you for your request dated Aug 10, 2022 03:08:31 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

You request for an investigation on XLKASH for Over Collection of Interest.

Please be informed, that you may lodge your concern with the Securities and Exchange Commission (SEC) and National Privacy Commission (NPC). An excerpt from the Accralaw Law Website with link https://accralaw.com/2019/11/20/lenders-beware-the-crackdown-on-illegal-online-cash-companies/

For your information and guidance.

Thank you.

Respectfully,

Sherry Ann Cuyos
FOI Receiving Officer

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