개인워크아웃 조건■ Eligible for support (overburdened debtors who meet all of the requirements below)
• Overdue period of 3 months (90 days) or more
• There is debt to one or more financial companies, and the total debt amount is KRW 1.5 billion * or less. * Unsecured debt is KRW 500 million or less, and secured debt is KRW 1 billion or less.
• The principal amount of newly incurred debt within the past 6 months is less than 30% of the total debt amount.
• A person recognized by the deliberation committee established by the committee’s articles of incorporation as having an income exceeding the minimum cost of living or being able to repay debt.
However, you may be excluded from debt restructuring in the following cases:
• Debt for which the repayment terms have been changed by agreement between the debtor and the credit finance company to the extent that it is equivalent to debt adjustment under the credit recovery support agreement.
• Debts for which debt adjustment is restricted by law, such as policy fund loans
• Other debts for which debt adjustment is restricted under the Credit Recovery Support Agreement
■ Support details
• Full discount on interest and overdue interest
• Repayment in installments within a maximum of 10 years for unsecured debt and up to 35 years for secured debt, considering the type of loan, total debt amount, repayment possibility, collateral, debtor’s credit, performance status, etc.
• Depending on the debtor’s repayment ability, the principal amount of unamortized claims is reduced within the range of 0~30%, and the principal amount of amortized claims is reduced within the range of 20~70% (up to 90% for socially vulnerable groups).
■ Application documents
Application documents may vary depending on the debtor’s circumstances, such as debt status and asset holdings, so please receive detailed information during consultation.
ID card
※ The resident registration number of a third party other than the applicant is issued with the last 6 digits masked (*) (the resident registration number must be written in its entirety).
wage earner
*Choose 1
• Relevant documents when owning property (copy of real estate register, car registration certificate, etc.)
• Confirmation documents according to application qualifications and support requirements (basic recipient, disabled person, etc.)
• Documents confirming eligibility for application for rapid debt adjustment
Unemployment benefit payment decision notice, health insurance qualification gain/loss certificate, health insurance payment certificate, leave confirmation, business closure certificate (business closure within 6 months), medical certificate or doctor’s opinion (issued within 1 month)
■ Contact us
Credit Recovery Committee 1600-5500
Business registration number: 616-82-13081 | Social Welfare Council Hall, 12-1 Cheongpungnam 8-gil, Jeju-si, Jeju-do (1112-1 Hwabuk 1-dong) TEL: 064-702-3784 | FAX: 064-702-3383
Copyright 2010 by Jeju Council on Social Welfare All Reserver.
