FINANCE & LIFESTYLE POLICE ISSUES POLITICS & GOVERNANCE

A Law Mandating AT LEAST 30 DAYS GRACE PERIOD ON LOAN PAYMENTS to be Signed by President Duterte

Dahil nagmamatigas ang ibang mga Financial Institutions, na ayaw mag-kawang gawa at magbigay ng Blanket Moratorium or Grace Period on Loan Payment Collection, MAY GOOD NEWS AKO SA INYO.

Portion of the Bill passed by Senate and recognized by House of Representatives

Alam ko nababalitaan nyo yung emergency session sa Senate at House of Representatives to give the President emergency powers. Yun lang kasi ang naka-highlight sa news.

Ang full title ng Bill na ito ay: AN ACT DECLARING THE EXISTENCE OF A NATIONAL EMERGENCY ARISING FROM THE CORONAVIRUS DISEASE 2019 (COVID-19) SITUATION AND A NATIONAL POLICY IN CONNECTION THEREWITH, AND AUTHORIZING THE PRESIDENT OF THE REPUBLIC OF THE PHILIPPINES FOR A LIMITED PERIOD AND SUBJECT TO RESTRICTIONS, TO EXERCISE POWERS NECESSARY AND PROPER TO CARRY OUT THE DECLARED NATIONAL POLICY AND FOR OTHER PURPOSES.

It will also be known in its short title as “Bayanihan to Heal As One Act.”

Grace Period for Loans

UNKNOWN TO MANY, incorporated din sa Bill ang safeguards to protect loan borrowers.

The following is included in the emergency powers of the President:

“(26) Direct all banks, quasi-banks, financing companies, lending companies, and other financial institutions, public and private, including the Government Service Insurance System, Social Security System and Pag-ibig Fund, to implement a minimum of a thirty (30)-day grace period for the payment of all loans, including but not limited to salary, personal, housing, and motor vehicle loans, as well as credit card payments, falling due within the period of the enhanced community quarantine without incurring interests, penalties, fees, or other charges. Persons with multiple loans shall likewise be given the minimum thirty (30)-day grace period for every loan;”

Ang ibig sabihin neto, kapag napirmahan na ng Pangulo ang Bill na ito, mandatory na ang AT LEAST 30 DAYS GRACE PERIOD FOR PAYMENT OF LOAN.

It means na yung ibang Financial Institutions na hindi nag implement ng MORATORIUM ON LOAN PAYMENTS AY MAPIPILITAN PA DIN NA MAG IMPLEMENT NETO, ALINSUNOD SA BATAS.

Ngayon, hindi pa napipirmahan ng Pangulo ang bill dahil kagabi lang ito pumasa sa Senado.

Pero, tandaan na ang Malacañang ang humiling neto kaya expected na pipirmahan ito ng Pangulo kaagad.

End Notes:

Ang point lang ng maraming readers natin dito ay ilalatag ko nalang sa isang sikat na salawikain, “ANG TUNAY NA KAIBIGAN, NAKIKILALA SA ORAS NG KAGIPITAN”.

Tanging AFPLSLAI lang po ang may sense yung pronouncement about moratorium on Loan Payment Collection.

UPDATE AS OF 09:15PM 24 MARCH 2020: PSSLAI IMPLEMENTS ONE-MONTH EXTENSION ON LOAN PAYMENT COLLECTION. IT INCLUDES ALL KINDS OF LOANS AND ALL MODES OF PAYMENTS.

Bakit po nasasabi ito ng ating mga readers?

Dahil yung iba kasi, tanging over-the-counter loan payments lang ang binigyan nila ng grace-period. Alam nyo po, given na yun kasi under Enhanced Community Quarantine nga po tayo at ang mga opisina ng mga Financial Institutions ay sarado din.

Ibig sabihin, justified talaga na hindi makakabayad via over-the-counter payment method ang mga loan borrowers.

In short daw, an attempt to do PR stunts lamang ang pronouncements nila.

Again, sabi ng mga followers natin, napapatunayan at nakikilala talaga natin kung sinong mga Financial Institutions ang totoong may puso para sa mga Servicemen natin.

Marinong Pulis
This blog is an attempt by the author to create an alter-ego that is not bound by rank, hierarchy or politics. One that does not represent his personal character but rather shall remain as an identity purely found online.
http://www.angmarinongpulis.com

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