Mommy Levy

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SSS Loan Condonation/ SSS Loan Restructuring Program Procedure

The SSS Loan Condonation/ SSS Loan Restructuring Program started April last year and it will end this April 2017. If you have an overdue loan this is your chance to pay for it without the penalty.  You only have a month to do so.

You should take this opportunity so that it will not be a hindrance when you avail of any SSS benefits in the future.

I have an outstanding balance in SSS when I stopped working amounting to P5,000 but since I forgot about it, it ballooned to P15,000. BTW, only the penalty is condonable which amounted to P7,000. Upon computation the amount I need to pay is P9,000 (prinicipal amount + interest).

The process was fast especially if you will go to the SSS office early in the morning.

I have chosen the SSS branch in Alabang-Zapote Road (ang kunti ng tao).


After you submit all the requirements needed, they will issue a contract for the settlement of your balance. To give you an idea, here are some of the things you need to take note if you want to avail of this program.

WHO ARE ELIGIBLE TO APPLY?

  1. All member-borrowers who have past due Calamity Loans or Salary Loan Early Renewal Program (SLERP);
  2. Member-borrowers with past due short-term loans living or working in calamity/disaster stricken areas as declared by the National Disaster Risk Reduction and Management Council (NDRRMC) or in the case of Ondoy, by the National Government.

Covered short-term loan programs are as follows:

  1. Salary Loan
  2. Emergency Loan
  3. Educational Loan (old)
  4. Study Now Pay Later Plan
  5. Voc Tech Loans
  6. Y2K Loans
  7. Investments Incentive Loan

AVAILMENT PERIOD

April 28, 2016 – April 27, 2017. (UPDATE: Extended until April 1, 2019)

HOW TO APPLY

  1. Secure updated Statement of Loan Balance for Loan Restructuring Program (2 copies) from the nearest submission of this form.
  2. Accomplish an Affidavit of Residency attesting residence/work address in a covered calamity area when the calamity/disaster happened. Member-borrower with Calamity Loan or Salary Loan Early Renewal Program (SLERP) and Death Benefit filer need not accomplish an Affidavit of Residency.
  3. Fill ou the Loan Restructuring Application Form (MLP-01263) in one copy.
  4. If member borrower is personaly applying for the restructuring, present original copy of valid identification cards/documents.
  5. If representative is filling for the restructuring program, submit the following:
    1. Special Power of Attorney (SPA) – original copy
    2. Photocopies of two (2) valid identification cards each of the member-borrower and the filer, at least one (1) with photo and both with signature. Present both original copy of the identification.
  6. Submit the form to the nearest SSS branch or Foreign Office with the Statement of Loan Balance for Loan Restructuring Program signed in the “Conforme” portion and the notarized Affidavit of Residency (if applicable).
  7. For the Death, Total Disability or Retirement (DDR) filer who will avail of the Loan Restructuring program, submit this Loan Restructuring Application form, Statement of Loan Balances for Loan Restructuring program together with the DDR claim application.

NECESSARY FORMS 

Click link to open or download the form.

  1. Application Form
  2. Statement of Loan Balance (to be issued by SSS Branch)
  3. Affidavit of Residency
  4. Special Power of Attorney (if filled by representative)

 TERMS AND CONDITIONS

ELIGIBILITY

  1. The loan/s must be past due for a period of at least six (6) months as of the first day of restructuring period.
  2. The member-borrower:
  3. Must be living or working in calamity/ disaster declared areas as of disaster date or as of application date. “Living” shall refer to the home address of the member-borrower (See Areas Covered);
  4. Must be under 65 years old at the end of the installment term;
  5. Has not been granted any final benefit, i.e. total permanent disability or retirement;
  6. Has not been disqualified due to fraud committed against the SSS;
  7. Member-borrowers with final benefits application (Death, Total Disability, Retirement) whose contingency date is on or before the last day of the availment period of the restructuring program. Said final benefit claim must be filed within the availment period.

AREAS COVERED

For covered short-term loan programs, below is the list of covered calamities or disasters declared by NDRRMC as under the state of calamity:

  1. Ondoy (2009)**
  2. Sendong (2011)
  3. Pedring and Quiel (2012)
  4. Pablo (2012)
  5. Labuyo (2013)
  6. Maring (2013)
  7. Santi (2013)
  8. Armed Conflict in Zamboanga (2013)
  9. Bohol and Cebu Earthquake (2013)
  10. Yolanda (2013)
  11. Agaton (2013)
  12. Glenda (2014)
  13. Mario (2014)
  14. Ruby (2014)
  15. Seniang (2014)
  16. Lando (2015)
  17. Nona (2015)

RESTRUCTURED LOAN AMOUNT

The sum of principal and accrued interests of all past due short-term loans of the member-borrower shall be consolidated into one Restructured Loan (RL1).

PAYMENT TERM

  1. Full payment – payable within 30 days from the approval date of restructuring application
  2. Instalment payment – payable in equal monthly amortization based on payment range as follows:

RL1 Range

Applicable Term

Less than P 2,000.00,

preferred term is full
payment

P 2,000.00 to P 18,000.00

12 months

P 18,000.01 to P 36,000.00

24 months

P 36,000.01 to P 54,000.00

36 months

P 54,000.01 to P 72,000.00

48 months

More than P 72,000.00

60 months

The member-borrower may elect his preferred payment term but not to exceed five years

INTEREST RATE AND PENALTY

  1. For installment term, RL1 shall be subject to interest rate of 3% per annum computed on a diminishing principal balance over the applicable payment term.
  2. A penalty of 0.5% shall be charged against the amortization due for every month unpaid during RL1 term.

DUE DATES AND MANNER OF PAYMENT

  1. Monthly installment shall be due for payment every 10th day of the month following the amortization month. Amortization shall start on the month immediately following the approval date of the Restructured Loan.

Example:

  •  Restructured Loan Approval Month: APRIL
  •  1st amortization month: MAY
  •  1st installment amortization is due on JUNE 10
  1. Payment shall be made through any SSS branch with tellering facilities or authorized collection agents of the SSS.

UPDATE: The SSS Loan Condonation/ SSS Loan Restructuring Program is extended until April 1, 2019.

Comments

  1. Mei says

    Katatapos ko lng po ng LRP payment ko, sa contract po may nakalagay n 39k loan amount and 32k condonable amount. Specified din po n valid lng ang condonable amount when u paid it in full and on time.
    Ang question ko po, since fully paid n ako based sa agreement, irerefund po ba ng SSS yung difference ng condonable amount against sa loan amount n paid ko? TIA

    Reply

  3. Jasmin pag-ong says

    Hi,gud day po mam,tanong ko lang po,nag aply po ako ng condonation,,pwede po bang hulugan ng malaki yung monthly,para mabilis matapos,salamat po,

    Reply

  4. Rosalia Punzalan says

    SSS condonation contribution Saan pwede magbayad di nataggap ang mga banko pwede ba sa bayad center or lbc?

    Reply

  5. MICHAEL ALBARICO MANGCO says

    Mam tanong q lang po kc nagfile na po aq ng condonation loan sa sss noong april 2015 po” ang kaso hindi q po nabayaran eto” noong mag inquire po aq ng 2017 lumaki na po ulit” ang tanong ko po pwede pa po ba aq makapag avail ng condonation loan ngaung bago mag april 2019? Salamat po

    Reply

  6. Magie austria says

    Nagbayad po ako ng sss lrp po kya lang.sabi ng lbc bayad center wala po lrp short term lang po tapos hindi nya kinuha ung form.pero binigyan ako ng receipt..

    Reply

  9. Catherine Abines says

    ask ko lang nag apply na po ako ng loan restructuring noong Sept. 28, 2018
    tapos ang sabi po skin ay babalik after na makatanggap ng text from sss na for signing contract n ang application ko
    until now wala po ko natatanggap n text from sss
    anu po pede ko gawin para malaman kung pede na ba ako bumalik ng sss office para makasign na o magaantay pa ako ng text. para naman po di sayang pagpunta ko para may assurance na may magagawa ako that day

    thanks

    Reply

    • Mommy Levy says

      yung sakin kasi isang araw lang yung release, di ko na need bumalik. Nung nag apply ako, pina sign na din ako

      Reply

  10. angelica manuel morada says

    good pm mam paano po kung di natapos yung RL1 pwede pa po bayaran kahit late na o kailangan fully paid na babayaran .
    thanks

    Reply

  11. Ricardo B. Mendoza says

    Magkano na po kaya ang dapat bayaran sa MPL na 11K at Calamity loan na 8K since 2001 pa? Continous pa naman ang hulog ko mula nong malipat ako sa Cooperative galing ng Laging Qlean Janitorial Services na Agency.

    Reply

  12. Ricardo B. Mendoza says

    Hi po..ang tagal na po kasi hindi ko nabayaran ang MPL at Calamity since 2001..pwede po ba ako sa condonation?

    Reply

  14. MommyOsang says

    Hi po! Ask ko lang po kung pano po computation ng penalty ng late payment ng Reconstructuring program ng SSS. For example po, may due ako this coming November 10, pag diko po ba nabayaran magkano po total penalty nun? Maraming salamat po!

    Reply

      • Mommy Joan says

        Good evening po. Mam ask ko lang po kung alam nyo po kung may penalty at kung magkano po kapag past due date na po magbayad ng sss restructure loan, every 10 po kasi due date ko eh mukhang 15 pa po ako makakapagbayad, magkano po kaya penalty non? Thank you po.

        Reply

  15. Jay Ocbina says

    Hi po,

    May I know kung pwde ko pa ma avail ang restructured po? Gusto ko na po kc bayaran yun sss loan ko. dipo kc ako aware noon na kapag d nabayaran yung sss loan lahat sa previous work is automatic matransfer yun sa new employer ko. please I need you help or feedback po. Thanks and God bless!

    Reply

  17. imheny says

    Ask ko lang po panu po kung di po aq makakabyad ng na apruv na loan restructure? I mean due ko po ay Oct 9 2017 pang 5th na hulog ko na po kaso baka po ma delay ako ng hulog. Panu po pag ganun? Hndi po ba maka cancel ung restructured program na na approved s akin?

    Reply

  19. Verna E. Santos says

    Mam, ask ko lng Oo kung ano ano needs na requirements pg apply ng condonation? Nagloan po kc ako since 1999,dko nhulugan kc nwalan ng work. Malaki po b kya penalty ko?

    Reply

    • Mommy Levy says

      tapos na po yung condonation, siguro antay na lang po kayo ng announcement ulit ng SSS kung kelan ulit magkakaroon

      Reply

  20. Meena says

    hi! i applied for this program last April and i was told na May yung 1st payment (which na comply ko) pero sa contract applicable for June sya. my question is: can i pay my due for July sa July na lang? thanks!

    Reply

  21. Mavic says

    Hi, if I’ve missed the first two months ng scheduled payment ng reconstructuring program, what will happen?

    Reply

  22. marie javier says

    hi mam, tanong ko lng po kapag ba nagbayad sa mga bayad center meron ba silang available form or kukuha pa sa SSS? Thanks in advance!

    Reply

    • Mommy Levy says

      usually po sa SSS kukuha ng form pero lately natuklasan ko na sa LBC may sarili na silang form at hindi na need ng SSS form

      Reply

  24. Aileen says

    Hi Mam, tanong ko nag apply Ako Ng condonation last April 26, ang dami namin nag apply kaya parang kinuha Lang ang form tapos pinababalik kami Ng May 9 kaya Lang di ako nakabalik pero Hawak ko ang acknowledgement stub… Kasi di ako makasingit Ng schedule sobrang busy pero Alam ko ang first payment as June 10. Kung pupunta ako Ng June 10 for initial payment. Okay Lang po kaya? Pasok pa rin po ba sa condonation?

    Reply

    • Mommy Levy says

      not sure po, it’s better to visit the SSS area na pinuntahan nyo para ma confirm. Thank you!

      Reply

  25. Maricel Guilalas says

    Hi Mam, nag loan po ako last 2011 po. Nag resign po ako then nalipat po sa ibang company hindi po ito nabayaran yung loan ko. Pero updated po ako sa monthly contribution.
    Nag check po ako ng outstanding balance as of May 9,2017. NAsa 35k na po sya..Umabot na po sa 10k ang penalty. Willing naman po ako na bayaran yung na loan ko. Pwde po ba ma waive kahit man lang yung penalty? masyado na po kasi malaki. Ano po ang gagawin ko ?

    Thank you
    cel

    Reply

    • Mommy Levy says

      tapos na po ang Condonation noong April. Antay at abang na lang ulit ng susunod, or pwede din kayo bumisita sa SSS para makapagtanong ano pwede nyo gawin. Salamat.

      Reply

  27. Fernan Magat says

    Hello,
    Ask ko lang, pwede ko bang i-apply ang tatay ko ng condonation. Namatay na po xa at nasabi po sakin ng ate ko yung 2K na salary loan 1980s eh 36Kna daw po. May makukuha papo kaya ako para sa death claim…namatay po ng 2015.

    Salamat po

    Reply

  28. Catherine Yalong says

    Hi sis..ask q lng f ever mkpgbyd po kmi full pyment ng unpaid loan nmin ds wik, mkakapag renew agd kya kmi for 2nd loan?0r 6m0nths p bg0 kmi mkarenew loan?tnx sis!

    Reply

    • jaizen domingo says

      Hello! Pano magprocess thru online para sa condonation? I will not be able to go to any SSS branch para ayusin, pano po sya kung dito sa online access ko gagawin? Thanks in advance!

      Reply

  29. Danilo L. Samaniego says

    I have a salary loan since 1989 and still unpaid to date. Iam now 60 yrs old . Can I still avail of condonation from SSS. Please advise.

    Respectfully,
    Danilo L. Samaniego

    Reply

    • Mommy Levy says

      Hi po, I think pwede po, punta na po kayo sa nearest SSS sa area nyo kasi hanggang April 27 na lang po ito, baka makahabol bago kayo mag pension.

      Reply

  30. Edna Culla says

    Good eve mommy levy ask ko Lang po about my salary loan i think year 1997 p po yon 10t po yon sakto po end of contract ako Hindi na nakapagwork Pano po yon kung iaapply ko condonation magkano po kaya aabutin gusto ko po sana bayaran tru condonation…thank you po in advance…

    Reply

    • Mommy Levy says

      I have no idea of the computation, pero may choice ka naman pumili ng amount base sa number of months to pay.

      Reply

  31. Richard Templonuevo says

    Hi mam tanong ko lng po kong ano dapat gawin kong di nakapagbayad ng almost 8 years sa first loan ko sa SSS pano po ung paraan na makakapagbayad sa SSS. malaki po ba penalty ko o may paraan po na makakabayad po ako ng di ganon kalaki . Maraming salamat po.

    Reply

  33. Joefre garcia says

    Gd am po maam .yung loan ko maam yr 2012.1rst loan ko 15k.diko nabayaran hangang ngaun .pag nag apply ako ng condonation .15k parin babayaran .dahil wala ng pinalty salamat

    Reply

  35. junicar says

    magandang araw po sa inyo mam. yun po sa akin SSS loan pinabayaran q po sa misis q pero ang sabi daw ng taga SSS kailangan daw po ng pirma q para makaavail dun sa walang penalty at interes.. eh ofw po aq at d2 aq ngayun sa trabaho q..ano po kaya ang pwede kong gawin para makaavail parin sa walang interes at penalty.. slmt po

    Reply

    • Mommy Levy says

      I think pasok ka “The outstanding short-term loan must be past due for a period of at least 6 months as of the first day of the restructuring period.”

      Reply

  37. J.C. says

    Hi sis, paano kung hindi ako covered ng calamity striken areas, but a delinquent member, can I still avail of this condonation program?

    Reply

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