College Assurance Plan (CAP), the troubled pre-need company, published an ad saying that it is actively providing the educational benefits of its planholders. " Trust CAP to meet its commitment", says the ad. It announced that checks are already prepared for planholders to use in this year's enrolment.
However, what some planholder friends of mine told me that CAP is indeed trying to meet its commitment by providing 500 peso worth of checks. Yes, CAP gives 500 pesos to cover 25,000 peso tuition fees. Talk about trusting CAP to meet its numerous requirements.
CAP is like Mrs. Arroyo's administration which gives 500 as subsidy to impoverished folk. Or, like some scholarship fund which gives you book allowances.
Mrs. Arroyo should do some good and get the pre-need industry some fix. Fix the industry by getting all the assets of these troubled companies and re-structure them. Don't give them any stimulus package. You'll be doing the public a big disservice if you do that.
If Mrs. Arroyo do the right thing and jail at least two (2) officials of these pre-need companies, then, I'll also do the right thing and write praises for her.
Come to think of it, i'll write many articles of praise for anyone, any Philippine leader, who'll be able to jail these officials of pre-need companies.
First stop should be Celso delos Angeles Jr. who gypped 140,000 depositors of their money. Next on the line should be CAP officials who wasted their collective funds in high-risk instruments.
Kapupunta ko lang sa CAP, Makati Office, at nakakuha ng checks worth P559.18. Yung colletible checks ko na P11,183.60, ay hinati pa sa P5,591.80. At ito ay babayaran pa 10 installment. Kaya lumabas na P559.18 ang nakuha ko nitong May 25,2009.Hindi ko lanag malaman kung kailan pa ang susunod na bayaran. Sa tingin ko lalong pinahihirapan ng CAP ang mga plan holder. Sa pagpunta na lang sa CAP office at halos kalating araw o isang araw ang magugol na oras. Mas lalo pa iyung nasa Probinsiya, oras at pamasahe na lang ay kulang pa ang binabayad nila na P500 plus. Sana ay magawan ito ng remedyo ng gobyerno natin.
ReplyDeleteI have long given up hope of recovering my half million pesos(not including interests) educational plans from CAP. You're right, GMA, and the government should do something to fix the pre-need mess. It's sort of scam perpetuated by the rich businessmen and bankers and abetted by the government. If the governemnt cares for the future of no less than 1 million pre-need scholars, it should lump all these losing pre-need companies into one gov't controlled corporation, seize their assets and inject funds so that these scholars may graduate. I once heard 'investing in people' as one of GMA's SONA topics. If GSIS can invest in paintings and claims that they can buy off Meralco and SSS invests in shady real estate deals then why can't they invest in the future of these Filipino youth who are the hope of our country.Aren't their future and the future of our country worth investing for? If our country can afford to pay behest loans of Marcos' cronies and the mothballed Bataan Nuclear Power plant can't it afford to pay the losses incurred by poor investors who lost their money because the government financial regulators failed in their duties?
ReplyDeleteI know I won't get any answer to these just as I won't get my money back but i believe in God who dispenses justice denied by human courts.