Content Creator Expresses Frustration Over SSS Loan Interest
A content creator has expressed his disappointment about the interest charged on their Social Security System (SSS) loan.
Recently, the Facebook page “DiskartengMarino” shared revealed how the unexpected fees left him questioning the system. The post quickly spread online and elicited comments from the netizens.
8 years ago, the creator took out a loan of P16,000 from the SSS, believing it was necessary to avoid their contributions being unused. However, he later realized that the repayment system wasn’t automatic, as initially assumed.
After several years, he discovered that the loan’s accumulated interest had grown to an overwhelming P38,000.
Seeking advice, they were able to lower the penalty through online processing, reducing the debt to P12,000. Still, the experience made them reflect on what they saw as an unfair setup.
The latter emphasized how his lifetime SSS contributions amounted to over P226,000, raising a crucial concern: why were they essentially borrowing their own money and being charged interest for it?
Many netizens empathized with the struggle of managing repayments, while others questioned the need for loans under such conditions. It also sparked calls for borrowers to be better informed about their payment options and encouraged reforms for a clearer, fairer process.
Here is the full post:
“Bakit na natin binabayaran to??
8 years ago nag loan ako sa SSS ng 16K, dahil sa haka-haka na kelangan gawin un or else gagamitin ung pera mo ng ibang tao.
Akala ko automatic yung payment then lately nalaman ko na voluntary pala dapat
Tapos nung pumunta aq sa SSS umabot ng 38k yung interest, binigyan aq ng advice na asikasuhin ko online para mapa baba ko, so bumaba sya to 12k.
Yung amount ng contribution ko nasa 226k..
Hiniram ko lang pala yung sarili kong pera tinubuan pa ko”
The social media users expressed their reactions to the post:
