BFS’ Extended Panalo Max Offer

BFS re-launched Panalo Max in continuing its effort to help Balikatan borrowers and realize their homeownership aspirations. Panalo Max was first launched in April 2012 and the response was positive with thousands of borrowers resolving, including Balikatan borrowers who were based abroad as OFWs.

In the past seven years, BFS constantly tried to reach its borrowers in efforts to encourage them to avail of its affordable condonation programs. Even if the obligation is on the borrower to seek out BFS, its dedicated account specialists exert efforts to communicate to clients through letters, phone calls, SMS, B-Online (an online video counseling service), including door-to-door visits in key areas such as Metro Manila, Cavite, Bulacan, Laguna, Rizal, Batangas, Bataan, Pampanga, General Santos, Davao, Cagayan de Oro, Bacolod and Iloilo.

“We keep on saying that foreclosure is a last resort and least preferred option and it truly is for us in BFS. We want borrowers to be able to save their homes and get closure. Rather than see borrowers lose their homes through foreclosure and eviction, once more, we are extending a helping hand to them,” explained Juno Henares-Chuidian, Head of Corporate Communication.

The Extended Panalo Max Offer runs up to September 23, 2013 but BFS urges the qualified Balikatan accountholders to resolve their accounts earlier since the foreclosure process does not stop until and unless they enter into a loan settlement agreement with Balikatan. Aside from this highly-discounted offer, BFS also offers term financing resolutions depending on the status of borrowers’ accounts.

Since BFS took over the highly delinquent portfolio from the NHMFC in 2006, thousands of Filipino families throughout the country were helped to fully resolve their long outstanding and overdue loan obligations.