BLOGGED PHILIPPINES

The purpose of this article is to inform the public about this policy of the Social Security System (SSS), the government-owned insurance company for those employed in the private sector. I just learned about this a few months ago when my company announced a workforce reduction program. Among the sad discussions is about this policy of SSS regarding loans in cases of resignation or retrenchment. Section G-2 of the SSS Loan Terms and Conditions (at the back of the loan application form) explicitly says the following: "The employer shall deduct the total balance of the loan from any benefit/s due to the employee and shall remit the same in full to SSS, in case the member-borrower is separated voluntarily (e.g., retirement or resignation) or involuntarily (e.g., termination of employment or cessation of operations of the company)." In other words, y ou will be required to pay the rest of your loan (including the interest) when you change employer or employment statu...

As a maintenance fee for your card, Credit Card companies will charge you an annual fee. Depending on the card that you have, it can range from few hundreds to a few thousands. But did you know that there are ways to have your credit card annual fees waived? Here are some situations in which you can legitimately request for it. Credit Card companies charge an annual fee for the upkeep of your account. You've spent a lot during the past year.  When you see your latest statement and you notice that you are charged with an annual fee, do not pay immediately. Call them and ask how to have it waived. This is especially acceptable if you've spent a lot in the past year. Depending on the amount and the credit card company, you can have 50% off your annual fee or have it totally waived if you met the spending requirement. The key here is, ask for it.