The Social Security System (SSS) has officially announced a new program called the Loan Restructuring Program (LRP).
This program is intended for SSS members who still have past due calamity loans and other individuals with short-term member loans who work or live in disaster-prone areas as declared by the National Disaster Risk Reduction and Management Council (NDRRMC) or the national government.
Boobie Angela A. Ocay, SSS Assistant Vice President for Member Loans, said:
“The LRP is in response to the widespread clamor from individuals and organizations to alleviate the burden of calamity-stricken workers, who face difficulties in paying their SSS loans after suffering from natural and man-made disasters that have devastated our country in recent years.”
Eligible individuals for the LRP include members who have past due short-term loans such as:
1. Calamity Loan
2. Old Educational Loan
3. Emergency Loan
4. Investments Incentive Loan
5. Salary Loan
6. Salary Loan Early Renewal Program (SLERP)
7. Study Now, Pay Later Plan
8. Vocational Technical Course Loans
9. Y2K Loans
Of course, it should be noted that only SSS loans past due for at least 6 months since the first restructuring period will be allowed. Also, a member has to be under 65 years of age by the end of the installment term.
As for those with past due short-term loan (except Calamity Loan and SLERP), the member should have worked or lived in a calamity or danger stricken area as defined by NDCC or the National Government.
On top of that, the LRP likewise includes calamity loan borrowers in the 1990s following the devastative 1990 earthquake and the eruption of Mt. Pinatubo. Additionally, members with past due short-term loans in declared calamity areas such as the following listed below are also covered:
1. Ondoy in 2009
2. Sendong in 2011
3. Pablo in 2012
4. Pedring, Quiel in 2012
5. Agaton in 2013
6. Labuyo in 2013
7. Maring in 2013
8. Santi in 2013
9. Glenda in 2014
10. Mario in 2014
11. Ruby in 2014
12. Seniang in 2014
13. Lando in 2014
14. Nona in 2014
15. Bohol-Cebu Earthquake in 2013
16. Zamboanga armed conflict in 2013
As far as requirements are concerned, the SSS member should have 2 Valid IDs.
The primary ID should either be:
• Driver’s license
• Passport
• Professional Regulation Commission (PRC) card
• Seaman’s Book (Seafarer’s Identification and Record Book),
• Social Security (SS) card
• Unified Multi-Purpose ID (UMID) card
Meanwhile, the secondary ID should be any of the following:
• Voter’s Identification card or Voter’s Affidavit/Certificate of Registration
• Taxpayer’s Identification Number (TIN) card
• Senior Citizen card
• Seafarer’s Registration Certificate issued by Philippine Overseas Employment Administration (POEA)
• School ID Card
• Postal ID Card
• Police Clearance or NBI Clearance
• Philippine Health Insurance Corporation (PHIC or PhilHealth) ID card
• Overseas Worker Welfare Administration (OWWA) card
• Marriage Contract or Marriage Certificate
• ID card issued by professional association recognized by PRC
• ID card issued by Local Government Units like Barangay, Municipality, City
• Home Development Mutual Fund (Pag-IBIG) Member’s Data Form
• Health or Medi Card
• Government Service Insurance System (GSIS) card/Member’s Record/Certificate of Membership
• Fishworker’s License issued by the Bureau of Fisheries and Aquatic Resources or BFAR
• Firearm License card issued by Philippine National Police
• Company ID card
• Certificate of Muslim Filipino Tribal Affiliation by National Commission on Muslim Filipinos
• Certificate of Licensure / Qualification Documents from Maritime Industry Authority
• Alien Certificate of Registration
If filed by Attorney-in-Fact of Member-Borrower, the legal representative must submit:
• Original copy of any two (2) of the Member-Borrower’s valid identification card/s or document/s, at least one (1) with photo and both with signature.
• Original copy of any two (2) of the Attorney-in-Fact’s valid identification card/s or document/s, at least one (1) with photo and both with signature.
Watch this video report for more: