Broadcast journalist Ted Failon checks on the progress of cases and complaints filed against bankrupt pre-need companies that offered educational plans this Saturday (June 2) in “Failon Ngayon.”
Many Filipinos were attracted by the budget friendly rates of P10 to P33 a day for the packages and availed them for their children. Dra. Lemi De Guzman was among those who availed of an educational plan from pre-need company College Assurance Plan (CAP), but her investments were gone in a snap when CAP declared bankruptcy and didn’t offer to refund a single peso to its clients.
CAP is not the only pre-need company that declared bankruptcy. Abundance Providers and Entrepreneurs Corporation, PET Plans, Platinum Plans Philippines Incorporated, TGP Corporation, at Prudentialife Plans Incorporated also ceased operations. Is the government taking action on the bankrupted educational plan companies? What awaits its victims who invested their time, money, and energy to nothing? Is it still safe to avail of an educational plan? What should a prospective client know about educational plans to avoid such problem?
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