SELaplana >> Business >> SSS Offers Amnesty to Delinquent Loan Payer

SSS revealed that they will be offering amnesty program to members with unsettled loans. Through this program, they will only be paying the principal and the interest without paying fully the penalties. The program will start on April and the deadline will be on September 30. But beneficiaries of the delinquent borrower who died without settling their loans can still file for the amnesty until March 2013.

Those who can apply for the amnesty are:

1. Applicants whose loan delinquency was caused by the failure of the employer to remit the payment deducted from their salary. This type of delinquent borrower can avail the 100 percent free of penalty. They will only pay the principal and the interest. But they must have at least three contributions with the last six months before the month of application. In applying for the amnesty, members must present proof of deducted loan amortization and notarized affidavits.
2. Beneficiaries of deceased borrowers who will still file the death claim application. They will pay no penalties at all, but the principal and the interest will be deducted from the death benefit.
3. Delinquent borrowers who paid at least 3 amortizations. The requirement is that they have at least 3 monthly contributions within the last 6 months before the month of application. They can avail the 90 percent penalties condoned.. that is if they will pay in full. However, for those who will pay in monthly instalment over three years, 3 percent per annum interest rate will be imposed and only 80 percent of the penalties will be condoned.
4. Borrowers who are filing for total disability or retirement claims. 50 percent of the penalties will be condoned and the principal and interest will be deducted from the benefit.

The amnesty program is offered only to overdue salary, calamity, emergency, educational, study-now-pay-later, stock investment and privatization fund loans.

Related:

1. How Many Days Should I File My SSS Maternity Benefit Form? 
2. SSS Pension Application Related Question
3. How Do I Change My Status in SSS Philippines?

Automatically receive updates via email...
Enter your email address:

Tags: SSS Amnesty Program, SSS Condonation, SSS Delinquent borrowers, SSS Loan
Tweet This!

Pinay Scandal

Actually, this terms refer to the photos, videos or any stories that reveal shameful, sxeperience, and secrets of some individuals or celebrities.

How to Avail SSS Housing Loan?

Question: How to avail SSS Housing Loan? Answer: First you need to know who are those members of the SSS that are qualified to avail the SSS

Loan Balance and Retirement

Visitor's Question good day ask ko lang po kung halimbawa may existing loan pa yung magreretire pero kinaltas nang company yung balance sa retirement... kailangan po

How Can I File Miscarriage Loan in SSS?

Question: How can I file miscarriage loan in SSS? Answer: Filing miscarriage loan can be done at the SSS (Social Security System - Philippines) near you. Read first

Cash not Loan, the Best Idea

Few of you (our blog readers) disagreed on what I told you before that getting a loan is not the good idea in acquiring an

On Personal Loan

Make your life simple with a personal loan Taking personal loan to meet your personal requirements is the most common mean to finance urgent needs. It

Mortgage, What is it?

Spammers who tried to comment-spam my blog made me wonder what mortgage is. They're always creating a nonsense comment posting a link to a mortgage

SSS Housing Loan – Individual Housing Program

The information written below is copied directly from their official website of the Social Security System or SSS in the Philippines: Housing Loan - Individual Housing

Shin Jung Hwan Scandal

Shin Jung Hwan, a Korean singer and comedian is currently stranded at the Cebu hotel after Shin failed to pay his debt from a Korean

ReviewMe Campaign, Launched

Just noticed today that ReviewMe has launched the ReviewMe Campaign where advertisers can create campaign offers just like what is happening at PayPerPost and Blogitive. A

SSS Online Inquiry – sss.gov.ph

SSS Inquiry Online Not Yet Registered? Register Here | Registered Already? Login Here Members of the Social Security Service in the Philippines can use the website for

www.social security system.gov.ph

I understand that you are trying to open the SSS or Social Security System official website. You can directly visit the site here. If you want

Getting a Loan vs Cash

Tons of our email readers thanked me for sharing them the article, "Owe no man anything," which was included on my post, "Live with debt,

Unlimited CellPhone Calls through Smartalk

Smart Philippines offers a very cool promo that allows Smart subscribers to do unlimited calls to all Smart Buddy and Smart Gold subscribers. This promo

If Microsoft has TellMe, Google Offers Google411

When Microsoft acquired the TellMe (Web Search Technology through Voice), everybody were expecting that Yahoo! or Google will do something in reponse to this. Today, it

SSS.GOV.PH – SSS News – Anti-Red Tape provisions set for

The SSS will undertake a pilot implementation of the provisions of Republic Act No. 9485, otherwise known as the “Anti-Red Tape Act (ARTA) of 2007”,

www.sss.gov.ph static information

sss gov.ph SSS Online Inquiry