사전채무조정The special period for rapid and pre-debt adjustment to reduce the debt burden of low-credit and low-income borrowers was from April of last year to the 2nd of this month.
However, considering the demand for debt adjustment for vulnerable groups due to high interest rates, the Shinbokwi decided to extend the operation period of the special period for rapid and pre-debt adjustment in order to provide preemptive support for recovery.
In addition, among the applicants for the special period for rapid debt adjustment, the loan agreement interest rate reduction level was expanded from 30-50% to 50-70% for only basic livelihood recipients with significantly low repayment ability, severely disabled persons, and the elderly (over 70 years old).
The target for the special period for rapid debt adjustment is a debtor with arrears of 30 days or less or a debtor who is overdue but is at risk of delinquency.
The existing loan agreement interest rate will be reduced by 30-50% without adjusting the principal by comprehensively considering the debtor’s ability to repay, such as available income (income-recognized living expenses) and assets, compared to the size of the debt.
The loan agreement interest rate reduction level will be expanded from the existing 30-50% to 50-70% for basic livelihood security recipients, severely disabled persons, and senior citizens aged 70 or older.
In addition, the installment repayment period will be extended to up to 10 years according to monthly available income, easing the repayment burden.
In addition, to help resolve difficulties such as temporary income decreases and unexpected increases in expenses, an opportunity to defer principal payment will be provided, and only 3.25% interest per annum will be paid during the deferral period.
The target of the special support for pre-debt adjustment is basic livelihood security recipients, severely disabled persons, and senior citizens aged 70 or older among debtors with arrears of 31 to 89 days.
Even in situations where the delinquency period is not long, we support full reduction of interest and delinquent interest similar to personal workout, and ‘interest-free principal installment repayment’ for up to 10 years.
In addition, since this is support for those who have significantly lost their ability to repay, we support up to 30% of the principal considering the possibility of debt adjustment.
However, those who have a lot of assets compared to their total debt or have excessive disposable income compared to the size of their debt may be denied support.
Lee Jae-yeon, the chairman of the Shinbokwi Committee, said, “In a situation where high interest rates and high prices continue, we have decided to extend the special debt adjustment program to reduce the repayment burden of low-credit and low-income individuals with heavy debt,” and added, “We will continue to work harder to reduce the debt repayment burden of vulnerable groups through preemptive debt adjustment support.”
Applications and receipts can be made through 50 integrated support centers for small business finance nationwide (visit), the cyber counseling department of the Credit Recovery Committee, and the dedicated application (connection).
[Shin-A Ilbo] Reporter Kim Bo-ram
