Bacolod modernized PUJs facing foreclosure

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August 13, 2026 | 12:00am

BACOLOD CITY , Philippines — The Land Transportation Franchising and Regulatory Board (LTFRB) has appealed to banks and financing institutions to suspend the foreclosure of more than 300 modernized jeepneys in this city as operators struggle with rising fuel prices.

LTFRB Chairman Vigor  Mendoza II said he made the appeal following a meeting with financing companies on Tuesday.

He said that loan providers agreed not to repossess units whose operators moderately skip payments.

Mendoza said the Department of Transportation has directed the LTFRB to provide as much assistance as possible to the local transport sector.