My teeth gnashes in anger as I heard the news that three pre-need companies declared bankruptcy without any warning to their planholders. Legacy Plans, scholarship Plans and All Asia Plans announced that they can not meet anymore their obligations.
Nobody from these companies held a press conference and apologize to the public. Instead thru their media they are blaming the Security and Exchange Commission (SEC) and the current economic recession as the culprit.
These people are the personification of Beelzebul. How can they stomached to milked the money of hardworking Filipinos for the past years? The middle class are their primary customers who skipped a little luxury in life in order to pay the premiums with the hope of providing good education for their children. Don't they feel the pain?
The SEC is incompetent in the sense that they did not monitor strictly these pre-need companies. They deserved to be fired because they failed to protect the interest of the people.
Just like the case of CAP and Pacific plans nobody will go to jail on this latest mess.
These pre-need companies are highway-robbers who inflicted the highest form of injustice. They kill hopes and dreams.
They deserve to rot in jails.
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