How to apply for credit amnesty for small business owners Confirm eligibility When to inquire
The Financial Services Commission will implement a ‘credit amnesty’ on March 12th for up to 2.98 million small delinquent delinquents, which will not reflect delinquency history information in credit evaluation.
Are you curious about credit forgiveness information? If so, please read this entire article.
In this post, we will learn how to apply for credit pardon for small business owners, how to check eligibility, and when.
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There is an application period for credit forgiveness, so please apply quickly. Please refer to the link below to apply for credit pardon for small business owners.
Credit pardon-application
1. What is credit amnesty?
This is a plan to support credit recovery for people who have experienced financial difficulties amidst high interest rates and high inflation.
2. Those eligible for credit amnesty
Those eligible for credit amnesty are 2.98 million people who incurred small delinquencies (less than 20 million won) from September 2021 to January this year. If you repay the delinquent amount in full by May, we will support your credit recovery.
Those with delinquency of 20 million won or less from September 2021 to January 2023
Those who repay the entire arrears by May 2023
Credit pardon inquiry
Starting March 12, ordinary people and small business owners can find out whether they are eligible for credit recovery support on the websites of personal credit rating companies and individual business credit rating companies.
Inquiry on credit pardon recipients can be made through the websites of credit rating companies (NICE Rating Information, KCB, SCI Rating Information, Credit Information Service, etc.).
You can also search using apps such as NICE evaluation information or All Credit on your smartphone.
✔️ Go to NICE evaluation information
✔️ Go to KCB
✔️ Go to SCI evaluation information
✔️ Go to Credit Information Service
If you are eligible for support, your credit score will automatically increase as your delinquency history information will not be reflected in your credit evaluation, making it possible to issue credit cards, take out new loans, or change loans.
3. How to apply for credit amnesty
2.59 million people have already repaid their arrears and can receive credit recovery support without a separate application, and 390,000 people can receive support if they repay their arrears by May.
👉 Apply for credit pardon
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Up to this point, we have learned about how to check the eligibility for credit pardon inquiry for small business owners.
Approximately 2.9 million people were able to benefit from credit amnesty. I hope that through this, you can free yourself from financial burden and live a better life.