锘� Removal of co-maker requirement for loans pushed | Inquirer 黑料社

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Removal of co-maker requirement for loans pushed

Philippine Daily Inquirer / 05:08 AM February 10, 2023

Manila Rep. Irwin Tieng wants to completely do away with having a co-maker as a prerequisite to from the country’s credit institutions. Tieng, who chairs the House committee on banks and financial intermediaries, has filed House Bill No. 7076 or proposed “No Co-Maker Act of 2023” which would require banks and financial institutions to relax loan application requirements and spare co-makers from being obligated to pay the principal borrower’s dues. HB 7076 will ban the requirement of a co-maker for loans and protect the co-maker from the obligation of paying the main borrower’s loans plus interest and penalties. —Jeannette I. Andrade

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TAGS: Irwin Tieng, Loan

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