Can I apply for SSS loan condonation?

Can I apply for SSS loan condonation?

The member-borrower may avail of the SSS short-term loan programs after six (6) months from the date of full payment of the Restructured Loan. The member-borrower cannot avail of any future condonation/restructuring programs of SSS once this restructuring application is approved.

Is there a SSS condonation program for 2021?

2019-004 (Condonation and Non-Imposition of Penalties on Delinquent Social Security Contributions) dated 15 March 2019, their post- dated checks which fall due in March 2021 shall be deposited on 30 April 2021.

What is SSS condonation loan?

Members can pay their overdue loan in full within 30 days with no additional interest, or apply for an installment payment term of up to five years with a minimal interest rate of three percent per annum. …

How can I reconstruct my SSS salary loan?

Steps to Applying for the SSS LRP

1. Go to the nearest SSS branch and get two copies of your Statement of Loan Balances for Loan Restructuring Program.
2. Fill out one copy of the SSS Loan Restructuring Application Form.
3. Submit all the requirements to the nearest SSS office.

How can I pay my SSS loan after due 2020?

Yes. To pay your remaining loan balance in full, log in to the SSS member portal and click “RTPL PRN” on the main menu. Make sure you haven’t paid your most recent loan bill yet otherwise the billing statement won’t be displayed. Look for “Amount to be Paid” and enter the exact amount of your outstanding balance.

How much is the penalty for unpaid SSS loan?

Loan shall be charged a penalty amounting to 1.5% of the amount due for every month of delay or a fraction thereof until updated or fully paid.

How can I pay my SSS unpaid loan?

Can I pay my SSS loan thru Gcash?

SSS Loan Payment Using Gcash Tips SSS loan payments can now be paid via Gcash as an alternative. It is easier and very convenient for mobile phone users.

What is condonation program?

The new Charter of the Social Security System (SSS) took effect on March 5 with the passage into law of Republic Act (RA) No. More importantly, the law introduces a condonation program, which allows employers with delinquent SSS contributions to settle their delinquencies without the imposition of penalties.

What happens if SSS loan is not paid?

What happens to unpaid SSS salary loans? A member’s failure to pay more than 6 monthly amortizations will result in loan default. A defaulted account incurs 10% interest per annum on the outstanding principal balance as well as a 1% penalty per month on unpaid principal and interest.

What is past due in SSS loan?

If a loan payment is due by the 10th of the month and is not paid within the specified time constraints, the payment will be considered past due.

How can I pay my SSS loan late?

How to pay your SSS salary loan online via Union Bank of the Philippines.

1. Log in to your Union Bank online account.
2. Click “Pay Bills”.
3. Look for and select “Social Security System (SSS)” as your biller.
4. Enter your PRN and click “Next”.
5. Review the details of your transaction before clicking the “Pay” button.