<Anchor> When
the government said that it would reduce the debts of small business owners, then there was a controversy over equity, arguing who was the one who faithfully paid off the debt.
The government has come up with a solution to this controversy.
It is said that only those who have no assets will have their debts reduced, but reporter Lim Tae-woo will tell you the details.
<Reporter> The
Financial Services Commission has gathered about 100 working-level bank lenders.
This is to explain the specific standards after the announcement of the self-employed debt relief measures, which has been criticized by public opinion as to who will faithfully pay off debts.
First of all, the exemption applies only when the debt exceeds the assets, that is, when a normal financial life becomes impossible.
60~80% of the principal will be reduced only for credit loans that are overdue for more than 90 days, and interest rates will be lowered for loans overdue for less than 90 days.
Mortgage loans are not subject to reduction or exemption.
If you have any assets or collateral to pay off debts, you will not be able to receive benefits.
After the reduction measures, we conduct periodic property inspections with the National Tax Service to reverse the indemnity measures if secretly hidden property is discovered.
If you apply for debt adjustment, it is reflected in your credit evaluation for up to 5 years, and is effectively treated as a bad credit.
Loans and credit card issuance were all blocked off, so authorities expected few people to deliberately risk getting their principal forgiven.
[Financial Commission official: (Korea) is one of the countries with a developed credit history, so there is probably less moral hazard than any other country.] The
financial authorities will further refine the detailed plan through public opinion gatherings, and then at the end of next month. He announced that he would implement this system for three years.