SSS offers anew loan restructuring program to delinquent borrowers

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Members of the Social Security System (SSS) wait as their SSS ID card is being processed in this file photo taken at the SSS main office in Quezon City. -- BW FILE PHOTO

THE SOCIAL Security System (SSS) will be launching another loan restructuring program for delinquent borrowers affected by natural calamities next month.

“This is loan restructuring program (LRP) follows last year’s LRP. Napakaraming nag-avail nito (Many availed this offer),” SSS President and CEO Emmanuel F. Dooc in a press conference in Quezon City on Thursday, March 22.

He said that he expects to generate about P1.2 billion from the LRP, much lower than the P13 billion it raised last year.

The upcoming offer would cover those remaining delinquents that were not able to avail the LRP in 2017.

LRP offers affordable payment terms and conditional condonation of loan penalties to delinquent SSS borrowers. — Elijah Joseph C. Tubayan