FIRST INNER TRADE CREDIT CORPORATION

Fernando`s Mall, Rizal St.

Sorsogon City

REQUEST FOR LOAN EXTENSION PROGRM (LEP)

Name of Borrower: Brenda Del Rosario Address: Bucalbucalan, Sorsogon City

Business: Buy and Sell No. of Loan: 8th
Loan Amount: Php. 25, 000.00 Overdue amounts: Php 3,640 Lapsed Contract
Date Started: November 24, 2017 Maturity Date: March 3, 2018
Remaining Balance: Php 3,640.00 Requested new daily Amortization: Php 250.00

JUSTIFYING REASON FOR QUALIFICATION FOR LEP

The account starts her lapses when her sister in law died last January 2018 and because of no other place
to
Action taken by the CC
Maker
Cc made all the possible action on delinquent account. CC served all the notices to the subject but the
subject beg to give them time to settle all the lapses when they recover from bankruptcy. CC decided to
transfer the subject to LEP after she made a letter last January18, 2018 by paying P150 daily, but after 5
days, the subject pays only 100 because of no income was produce. Last January 30, 2018, CC send the
demand letter thru post office for the subject to pressure to settle all her lapses. CC also counsel and
pressure the subject to settle all her lapses but she was begging that when her husband got a job they pay
all the remaining balance.

Barangay Action
No Barangay settlement happen because the subject and the CC already had an agreement on how to
settle the payments, attached promissory note from the subject.

Assessment for what necessary action should be done/ Recommendation

CC must continue on collecting payments from the subject and always remind her that she has an
obligation to pay her loan ,but CC suffer difficulties in collection and even his live-in partner cant able to
help him because of poor income every day. In view of this may I request that be transferred to SPECIAL
ACCOUNT.

Identify the areas which the CC overlooked in approving loans

CC overlooked the character and capacity of the subject in approving loan and CC must counsel the
subject to pay his/her daily obligation.
Preventive measure and suggest
To ensure that the same thing will never happen again, CC must observe the subject`s business if it`s still
stable and profitable. CC must also observe the subject`s character and capacity on his/her willingness to
pay his/her obligation. CC should monitor the subject`s business and should know all his/her relatives near
him/her.

Requested by:

Jeff Chavez
Credit Consultant (B9)

Noted by:

Romel D. Vergara
Branch Manager