THE Philippines is becoming a hotspot for scams, according to the Presidential Anti-Organized Crime Commission (PAOCC). The PAOCC said scams are becoming more prevalent in the country, affecting many unsuspecting Filipinos.

Amid this sad development however, the government of President Ferdinand Marcos Jr. is up on its feet to counter the perpetuators of the crime. Many offices used by scam operators have already been dealt with this year by authorities.

The latest of which is the office of a loan collection firm in Makati which was raided by members of the Philippine National Police (PNP) and the PAOCC. The company was said to be engaged in online harassment scam.

Earlier, authorities also shut down the operations of a debt recovery services agency in Pasig City because it’s allegedly threatening people who owe money from its clients. Debtors complained they receive messages like ‘You and your family should be careful because we know your address.”

The police and other concerned agencies like the Securities and Exchange Commission (SEC) have called on the victims to file formal complaints to boost the cases against the suspects.

There are many ways of collecting debts. Resorting to harassment and threats is definitely not one of them.

Meanwhile, President Marcos could be delighted by a report that a government agency is setting a good example on how to collect debts.

Doing the exact opposite of the scam, the state pension fund has launched a condonation and restructuring program with longer and affordable payment terms to benefit former members, old-age pensioners, re-employed members, and other borrowers with overdue loans.

Dubbed the Restructuring Program for Service Loans (RPSL), it is a one-time condonation and restructuring program aimed at providing delinquent borrowers a more flexible and lighter option to pay their due and demandable service loans as well as their penalties and surcharges.

The program is deemed to improve the pension fund’s loan collection efficiency.

“GSIS hopes to address the clamor of our members and pensioners who would like to settle their obligations in full or in part through flexible means,” GSIS President and General Manager Wick Veloso said.

Borrowers may apply for RPSL over-the-counter at any GSIS office. They must submit a duly accomplished RPSL application form along with a clear photocopy of Phil ID, GSIS eCard, valid passport, or any two valid government-issued IDs.

The RPSL program covers various service loans, which include the GSIS Salary Loan; Enhanced Salary Loan; Restructured Salary Loan; Emergency Loan Assistance; Summer One-Month Salary Loan; Member’s Cash Advance; eCard Plus Cash Advance; Consolidated Loan; Enhanced Conso-Loan; Emergency Loan; Home Emergency Loan Program; Study Now, Pay Later; Fly PAL, Pay Later; Educational Assistance Loan; Stock Purchase Loan; Policy Loan; Optional Policy Loan; GSIS Financial Assistance Loan; Program for Restructuring and Repayment of Debts; Multi-Purpose Loan; Computer Loan; and other future loans.

Excluded from RPSL are the GSIS Real Estate Loan; Deed of Conditional Sale; Restructured Real Estate Loan; Pension Loan; Pension Emergency Loan; and Pensioner’s Restructured Loan.

“We urge our members and pensioners to avail of RPSL to enjoy an affordable 3%-6% interest rate. By paying a down payment of at least 10% of their outstanding balance, they can now pay the remaining balance on a five-year installment basis at a max of 6% interest per annum only.” Veloso stressed.

RPSL availees may settle their loans by paying over the counter in cash or manager’s check at the nearest GSIS office. Meanwhile, re-employed members may have their payment shifted to payroll deduction; old-age pensioners, through old-age pension deduction.

“By strengthening our loan collection efficiency, we are also protecting the financial health of the pension fund so that members may avail of benefit and services when they fall due,” the pension fund chief said.

Other lenders should stop hiring bad debt collectors, They should just follow the steps of GSIS instead.

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AUTHOR PROFILE

Mario Fetalino Jr.