Don’t Miss a Payment! SSS Loans Now Use Texting
The Social Security System (SSS) is now using text messages to help borrowers stay updated on their loan payments. This new system, which began last month, focuses on reminding members about overdue short-term loans like salary and calamity loans.
By sending these text reminders, SSS hopes to improve the number of loans that get paid back on time. This will ultimately allow borrowers to easily renew their loans once their outstanding balances are settled.
“The SSS will be sending these text messages regularly to loan borrowers,” explained Pedro T. Baoy, SSS Senior Vice President for Lending and Asset Management. “This way, borrowers will be reminded promptly if they miss a payment or have a loan that’s past due.”
Baoy also recommends that members check their loan status through their My.SSS accounts to avoid any late payment charges.
It’s important to note that members who are on top of their monthly payments won’t receive these text reminders.
Previously, SSS relied on sending loan billing statements via email. However, they realized that many members are more likely to see text messages on their phones compared to emails. “We used to send statements through email, but we know people check their phones more often,” said Baoy. “So, text message reminders seemed like a better way to keep everyone informed about upcoming loan due dates.”
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