Loan Default occurs when a member fails to pay several consecutive amortizations, causing the loan to become overdue. Defaulted loans accumulate interest and penalties and may disqualify the member from obtaining new loans. Unpaid loans may also be deducted from future SSS benefits such as retirement or death claims through loan offsetting.
Hospital delivery in the Philippines can easily cost ₱60,000 - ₱200,000 depending on the hospital and type of delivery.
Many parents use a credit card to manage these expenses while waiting for their SSS maternity benefits.
