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  • Disclosure Statement 34253091051652166937271

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    This document is a disclosure statement from the Social Security System (SSS) regarding a short-term loan restructuring for member Veronica Montalbo. It outlines the details of her restructured loan 1 (RL1) including the outstanding principal balance of 7,705.46 PHP, a monthly payment schedule across 6 months totaling 7,773 PHP, and an effective interest rate of 3.04% per year. It also lists conditional charges that may be imposed, such as condoning penalties if paid in full on time but transferring any unpaid balance to a new loan with 10% interest (RL2) if not paid off as agreed.

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    This document is a disclosure statement from the Social Security System (SSS) regarding a short-term loan restructuring for member Veronica Montalbo. It outlines the details of her restructured loan 1 (RL1) including the outstanding principal balance of 7,705.46 PHP, a monthly payment schedule across 6 months totaling 7,773 PHP, and an effective interest rate of 3.04% per year. It also lists conditional charges that may be imposed, such as condoning penalties if paid in full on time but transferring any unpaid balance to a new loan with 10% interest (RL2) if not paid off as agreed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    10 views1 page

    Disclosure Statement 34253091051652166937271

    Uploaded by

    Moi See
    This document is a disclosure statement from the Social Security System (SSS) regarding a short-term loan restructuring for member Veronica Montalbo. It outlines the details of her restructured loan 1 (RL1) including the outstanding principal balance of 7,705.46 PHP, a monthly payment schedule across 6 months totaling 7,773 PHP, and an effective interest rate of 3.04% per year. It also lists conditional charges that may be imposed, such as condoning penalties if paid in full on time but transferring any unpaid balance to a new loan with 10% interest (RL2) if not paid off as agreed.

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    © All Rights Reserved
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    Republic of the Philippines

    SOCIAL SECURITY SYSTEM

    DISCLOSURE STATEMENT UNDER THE SHORT-TERM LOAN


    PENALTY CONDONATION PROGRAM
    (As Required under R.A. 3765 Truth in Lending Act)

    Name of Member- MONTALBO, VERONICA FE ISRAEL Loan Account No. R3202205101039314


    Borrower:
    SS Number: 34-2530910-5
    Address: 28 GUMAMELA CONSTANTINO VILLAGE MARULAS CITY OF VALENZUELA 1440

    1. RESTRUCTURED LOAN 1 (RL1) AMOUNT Php7,705.46


    Based on Statement of Loan Balances as of 05/10/2022

    2. SCHEDULE OF PAYMENTS

    Amortization Month Payment Date Amortization Interest Principal Outstanding Principal


    Schedule (Amount) Balance
    (mm/dd/yyyy)
    Php7,705.46
    Jul-22 31-Aug-22 1,295.50 19.26 1,276.24 6,429.22
    Aug-22 30-Sep-22 1,295.50 16.07 1,279.43 5,149.79
    Sep-22 31-Oct-22 1,295.50 12.87 1,282.63 3,867.16
    Oct-22 30-Nov-22 1,295.50 9.67 1,285.83 2,581.33
    Nov-22 31-Dec-22 1,295.50 6.45 1,289.05 1,292.28
    Dec-22 31-Jan-23 1,295.50 3.22 1,292.28 .00
    TOTAL Php 7,773.00 Php 67.54 Php 7,705.46

    3. EFFECTIVE INTEREST RATE: 3.04% per anum

    4. CONDITIONAL CHARGES MAYBE IMPOSED

    a. Condonable penalties amounting Php5,669.06 shall be condoned upon full payment of the restructured loan

    within the approved term, otherwise, proportional balance shall become part of a new loan (Restructured

    Loan 2).

    b. After the payment term, unpaid principal balance plus the proportional balance of condonable penalty shall

    be transferred to a new loan (Restructured Loan 2) and shall henceforth be charged an interest rate of 10%

    per annum until fully paid. RL2 shall then become fully due and demandable.

    c. Penalty of 1% per month against any late amortization payment during the term of RL1.

    CONFORME: MONTALBO, VERONICA FE ISRAEL 05/10/2022


    Member-Borrower Date

    This is a system-generated Disclosure Statement and does not require a signature from SSS.

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