Adoption of Other Debt Relief Measures

In consideration of the adverse impact of the COVID-19 pandemic on the finances of Filipinos, the Securities and Exchange Commission (SEC) strongly encourages financing companies (FCs), lending companies (LCs), and microfinance NGOs (MF-NGOs) to adopt measures that will help ease their borrowers’ financial burden. Such measures may include: lowering of interest rates; waiver or reduction of penalties, charges, and other fees; payment holiday; debt consolidation; extending the term of the loans; and provision of flexible payment schedules (English).