Moratorium Offered For SSS Loans Amid Quarantine Measures Due to COVID-19
SSS LOANS – The Social Security System (SSS) is offering a loan payment moratorium to borrowers amid the COVID-19 quarantine measures.
Filipino families now are suffering from financial struggles as many breadwinners temporarily lost their monthly income. The COVID-19 has affected almost everything in the Philippines.
Community quarantines are implemented until now to prevent the spread of coronavirus. In line with the fight against the pandemic, many non-essential businesses temporarily stopped their operation.
Undeniably, workers who are under a no-work-no-pay scheme are struggling on how to cope with their monthly expenses. Every day, there are food expenses amid the people having to stay at home.
Meanwhile, several government agencies recognized and wanted to help ease the struggle of many people now. Some institutions did it through offering loan moratoriums.
One of these government institutions is the Social Security System or more commonly called as the SSS. Based on a report on ABS-CBN News, the SSS loans now are under a three-month moratorium amid the quarantine measures now due to COVID-19.
SSS Spokesperson Fernan Nicolas expressed that the payment collection is eyed to resume in June but it would still depend on whether or not the quarantine measures are lifted.
Based on the report, Nicolas expressed that the SSS will release an announcement regarding the SSS loans moratorium amid the COVID-19 crisis.
Aside from the SSS, the Pag-IBIG Fund also offered a grace period on loan payments. You may visit – 4.8 Million Pag-IBIG Fund Loan Clients Granted Grace Period.
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