After years of working, a couple decided to buy a brand new car. This was in December last year. To make this happen, a relative referred them to a credit analyst of a bank in Cagayan de Oro to avail of a car loan. What was supposed to be their dream car turned out to be a nightmare!!!

In a lengthy Facebook post which went trending in social media, netizen Ryanne Canete detailed a brief chronology of the events that happened to her parents who were scammed by a bank credit analyst. Posted in Cebuano, we summarized and translated her post below.


  • Her parents (Father aged 59 and Mother 65) decided to buy a brand new car to enjoy the fruits of their labor
  • Her half brother referred them to a Credit Analyst at BDO Limketkai for a car loan
  • Credit Analyst assured her parents that the car loan will be approved.
  • After a few days, Credit Analyst told her parents the application is pending approval already
  • Her mother sought assistance from a bank manager from another branch
  • Credit Analyst told her mother “don’t tell the manager, I’ll get you a unit (car) from Manila”
  • Mother was elated of the development since she thought as a senior citizen her car loan application will not be approved by the bank
  • Fast forward…..Credit Analyst told her parents they found a unit at Mitsubishi Manila! Parents were excited!
  • Credit Analyst told her parents of the price of the car and they need to pay downpayment of Php 215,000!
  • Father offered to pay high downpayment to reduce the monthly payments to which the Credit Analyst agreed
  • Parents paid the downpayment of Php 347,200 based on the computation by the Credit Analyst
  • Credit Analyst assured her parents the loan will be approved


  • Unit is now available and is at the Pier already. Parents are excited and wanted to go to the Pier
  • Line at the Pier is long and the unit allegedly has not been unloaded yet from the ship.
  • They went to the Pier for 4 straight days to no avail
  • The next day the Credit Analyst came to their house and told her mother the loan application is being questioned because she is a senior citizen and has no co-maker!
  • Mother got worried so she went to Gingoog City to have father sign as co-maker.
  • Credit Analyst again assured the loan application is now being discussed and for approval.
  • Parents waited for the decision.


  • Credit Analyst said the loan was approved BUT the downpayment should be 40% of the car price.
  • Credit Analyst also said the unit was recalled at the Pier for safety purposes.
  • Because loan was allegedly approved, Father changed unit and this time from Toyota Cebu!
  • Updated computation of downpayment is now Php498,000 but father was furious and refused to add more of the downpayment.
  • Mother secretly paid P21,000 to continue the loan
This is the P477,000 he initially recieved. Excluded is the additional P21,000 her mother gave for the 40% downpayment.
This is supposed to be the unit from Toyota Cebu but the order is metallic gray and the one in the photo is silver.
Credit Analyst said the order is really metallic gray and sent this email. The one who took the photo made a mistake.

MARCH 2021

  • Unit is still not available and father knew that the loan was continued
  • Father looked for ways to contact Toyota Cebu since he can’t wait any longer.
  • Father was surprised after learning Toyota Cebu doesn’t have their name in the order list.
  • Father was furious and decided to cancel the order!
  • Credit Analyst was startled since he needs to refund the P498,000!
  • Credit Analyst secretly told her mother they will just go to Toyota CDO to reserve so as not to cancel the loan
  • Waiting continues until father discovered the Toyota CDO plan and got angry and wanted a refund.


  • Mother went to BDO on a Wednesday to get a bank statement of her account and discovered there was no refund reflected yet so she called the Credit Analyst.
  • Credit Analyst told her he is confined at a hospital due to an accident and told her mother that his co-worker at BDO said the refund will be thru Manager’s Check. Because Holy Thursday is a holiday, Credit Analyst told mother she can get the check on Monday.
  • On Black Saturday, Credit Analyst called and offered a unit from Makati with a promo of Php440,000 downpayment so the refund will just now be Php58,000.
  • While waiting for the bank refund of Php58,000, Credit Analyst offered to pay Php20,000 telling her parents that processing of the car loan is quick and the unit is also on the way.
  • Credit Analyst again visited the house and brought some documents saying mother has no free insurance yet since the car loan has high downpayment. Credit Analyst demanded Php48,000 for insurance!
  • Mother looked for ways to produce Php48,000. After a few days, Credit Analyst returned with an insurance policy and documents are now okay. Parents are now waiting for the unit.
  • The full refund of Php58,000 has not been completed since only Php20,000 was given but parents didn’t mind and were excited of the unit!
  • Credit Analyst brought another document – schedule of shipment of the car. Credit Analyst told her mother the shipment is still not due for a long time and suggested that they change to Isuzu CDO since the stock will be available the next day!
  • After a few days, Credit Analyst told her parents the order is approved already! He jokingly told her mother “where is the celebration… you need to have a blessing for this…”
  • Father came to CDO from Gingoog City excited of the car!
  • Credit Analyst came bringing another document and held her father’s hand, cried and knelt down!
  • Credit Analyst said “sorry, the loan was not approved…no purchase order”
  • Everyone in the house was startled and her father got angry!
  • Credit Analyst again made an assurance, this time he will lend his car while there is still no refund from bank. He insisted the money is still in the bank.
  • Father took Credit Analyst’s car to be sure in case there will be no refund.
This is a copy of the email which states that her mother is not qualified for free insurance because of high downpayment.

MAY 2021

  • Credit Analyst makes many excuses – REFUND IS STILL FLOATING. He always instructs her mother to go the ATM for balance inquiry. Her mother went to the ATM more than 10x to no avail.
This is the text message on status of refund.
This is another text message on status of refund. They were surprised to see it’s now P448,000 when it should be P440,000 and the balance of P38,000 (from the P58,000) was also not included.

FAST FORWARD … JUNE 2021…. Credit Analyst reportedly was Covid Positive but the refund remains Negative!

UPDATE: Her half-brother also reported to BDO because he too was scammed. It turned out Credit Analyst scammed a total of 18 accounts, most of which he did not deposit the payment. The question – how was he able to create the 18 accounts which he scammed?

all photos by Ryanne Canete

Read Ryanne’s full post in the link below.

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