Invoking the spirit of forgiveness and repentance during this Lenten Season, SEDP has called on the Social Security System (SSS) to implement a loan penalty condonation program allowing members with past due loans to regain their good standing with SSS and give them a fresh start.

“We humbly make this appeal for SEDP members who were unable to pay their loans on time due to natural calamities and financial constraints. The loan condonation program would bring much-needed relief to our members and other SSS borrowers beset with the same fate,” said Rev. Fr. Jose Victor Lobrigo, SEDP Simbag sa Pag-Asenso Inc. President and Chief Executive Officer.

According to Rev. Fr. Jose Victor  Lobrigo, 56 of the 124 SEDP clients with existing SSS loans are classified as delinquent, with an outstanding loan principal of 244,354 or about P4,000 per borrower on the average.

When combined with the accumulated P63,724 in penalties and P246,138 in continuing interest as of March 2016, the total payable amount nearly tripled to almost P11,900 . Per SSS guidelines, the penalties and continuing interest grow every month until the loan is fully settled.

Under past condonation programs, part or all of the accrued loan penalties and continuing interest were waived. “Our 56 of over 29, 000 SEDP members have delinquent loans. While the occurrence of SSS loan delinquency is low in our organization in general, we do hope that SSS would heed our call and address the growing clamor from distressed loan borrowers for another chance to set things right with the help of a loan condonation program. It is what these workers need.” Rev. Fr. Jose Victor Lobrigo said.

As part of its commitment to extend financial support for micro-entrepreneurs and families, SEDP is actively engaged in SSS to advance the welfare of workers particularly in the Bicol region and Samar province. SEDP is an accredited SSS partner for the collection of contribution and loan payments. It may also receive members’ applicants for SSS registration, funeral grants and salary loans on behalf of SSS.