Certain colleagues of mine are applying for a loan from our Social Security System (SSS). Some of them told me that it’s been a practice in SSS to have other people apply loans under your name and it would come out that you’ll become a guarantor for a loan you haven’t availed of. This story is similar to my mother with the only difference is that she’s a government employee. The social service provider for government employees is the Government Service Insurance System (GSIS). I keep on asking her before why avail of the loan when in fact there’s no specific need for loaning (not because we’re well-off but it’s just I don’t see any particular reason to) and she answered me the same – people will use your social service number and loan according to your privileges.
It is quite alarming for me to know that this phenomena happens. While I haven’t heard of an exact case of having your loan privileges utilized by others but I can’t imagine myself paying something for nothing. Fortunately, I am not yet qualified for a loan but even how small my first loan privilege would be, I wouldn’t let others take that “benefit”. I am just wondering if there’s already a case/situation where someone contested in either GSIS or SSS the validity of a loan acquired in behalf of another’s privilege. If there’s a link that you can point me out, please lead me to that page.