Guide on When You Pag-IBIG Cash Salary Loan Be In “Default”
PAG-IBIG CASH SALARY LOAN – Here is a guide on when your multi-purpose salary loan from the Pag-IBIG Fund be in “default”.
Are you struggling with your finances and thinking that there is really a huge possibility that you will fall below your budget? Worry no more, there are several government agencies that can help you make ends meet.
One of these government agencies is the Pag-IBIG Fund. Aside from providing affordable housing options through its Pag-IBIG Housing Loan, this government entity also provides a multi-purpose loan offer for its members.
The said loan offer can help you both in making ends meet and in reaching big and longtime goals. You can pushed through with your house renovation, car repair, or studies using the aid under this offer.
The said Pag-IBIG Loan got minimal eligibility requirements. To check if you are eligible to apply for this loan offer or not, you may visit – PAG-IBIG LOAN – Who May Borrow Through the Pag-IBIG Multi-Purpose Loan.
With regards to how much you can borrow, your total contribution or total accumulated value (TAV) will be the basis. You may visit – Pag-IBIG Salary Loan – How Much You Can Borrow Based On Contribution.
If your loan application has been approved, it is important to be a responsible borrower. The timeliness of your payment will not only affect your balance but as well as your credit score or credit history.
One of the things that borrowers should avoid is to put a loan in “default”. It is like a red sign on the lender. There are several occasions that can put your Pag-IBIG Cash Salary Loan under “default”.
Based on an article on Cash Mart, here is a list of three (3) situations wherein your Pag-IBIG Cash Salary Loan can be in default. Better avoid them to be able to renew your loan again next time.
- presenting an altered or a false document to Pag-IBIG Fund
- failing to pay your monthly amortizations for three (3) consecutive months
- violating a policy of Pag-IBIG Fund
Do you plan to apply for the said offer? You may visit – PAG-IBIG SALARY LOAN – How To Apply & Requirements To Prepare.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
READ ALSO: Pag-IBIG Salary Loan Renewal – When Can You Renew Your Cash Loan