The loan may be renewed after the prescribed amortization period of two (2) years.
You need not wait for another 2 years after paying through the condonation program in order to avail of a second salary loan. This is simply because you have already paid your loan. Thus, as long as you're done amortizing or paying your loan, you can already request for a renewal.
Good Afternoon, Atty. Biron! I want to know if SSS will still have a condonation program this year? Is the new law for condonation only for employers? I still have an existing calamity loan and planning on applying for a salary loan. Am I still qualified for this? Thanks.
You're welcome! Thank you for visiting this forum!
There is an ongoing loan condonation program which you may avail of. There is no "new law" for condonation because the last one already ended. The other condonation programs are not strictly called condonation "laws" because these are mere circulars.
You cannot apply for a salary loan if you have an existing calamity loan. You have to settle that first.
Sorry for the late reply, i overlooked your query. If you have basis to say that your employer does not remit all these contributions, you may complain this anomaly at the concerned agencies such as SSS etc. Proceed to their office and report these inactions.
I've been to SSS-Diliman yesterday gusto ko po sana i-inquire yung sa sss salary loan condonation program kung meron pa para po ma-apply ko yung dati kong sss loan sa previous employer ko na patuloy ang pag-lobo ng interest, malaking bagay na rin sana kung matatanggal ang interest at penalty at yung principal amount nlang potalaga ang kailangan kong bayaran , pero sabi nila wla daw pong individual loan condonation program ang meron po ay yung sa employer which is remittance lang ang pwedeng icondone at hindi ang loan ng mga empleyado, atty. can u enlighten me po kc me nabasa ako sa isang reply nyo dito na magkakaroon ulit ng loan condonation para sa mga delinquent na gaya ko, meron po ba at paano po ang processo nito? thanks po - rose =)
Last edited by rose; 20th September 2010 at 09:03 AM.
I heard about SSS loan condonation. And through online query I was noted that I am entitled to avail for it so I went to our nearest SSS branch. I have salary loan of P24,000.00 way back Feb. 2006. but was not able to pay any single dues of my monthly amortization up to this time. That’s why last June 15, 2010 upon verification, I was informed that my total outstanding loan already reached P34,691.77. But SSS personnel informed me that the period for condonation ended already last Dec. 2009.
Can you please help me for other possible options wherein I can pay my outstanding salary loan less all the penalties. Hope you may help me to settle my obligation, as I don’t have anymore stable job like before. It will be greatly appreciated.
Last edited by ednasalaria; 28th September 2010 at 06:24 PM.
Only more than a week (24 June 2010) after your visit to SSS (15 June 2010), the SSS issued Circular No. 2010-05 which provides for the guidelines for the condonation of penalties for unremitted or delinquent loan amortizations of employees by employers due on or before 01 April 2010. This circular allows you to report to your current employer your delinquent loans so that your employer will avail of this condonation program for you.