How to solve cell phone bill debt all at once
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Today, we will tell you how to solve your cell phone unpaid bills and adjust your debt at the same time. When you purchase a mobile phone, you will use various carriers (LG U+, SKT, KT) together. Usually, the typical types of unpaid mobile phone bills are 1. Non-payment of telecommunications bills 2. Overdue mobile phone installment payment 3. Small-amount mobile phone payments.
Monthly telecommunications fees, terminal installments, and micropayments can be overdue the moment you think of them as small amounts and become careless. Thinking that it is overdue for about a month or two, taking it lightly, the use of the terminal is suspended, and more and more people are incurring debts of more than 10 million won due to mobile phones. Unpaid cell phone bills should never be taken lightly.
Unpaid mobile phone bills can be rehabilitated individually
Repeated failure to pay your cell phone bill can affect your credit score and, in extreme cases, can lead to foreclosure. As such, you may wonder if the amount is large, but when the telecommunications fee, terminal installment payment, and mobile phone micropayment fee are combined, it can increase to an unmanageable level, ranging from a minimum of several million won to tens of millions of won. Therefore, you can apply for personal rehabilitation as a way to solve this. In the individual rehabilitation system, the mobile phone carrier can be included in the list of creditors and the debt can be forgiven together without the need to obtain the consent of the creditor.
If you have more debt than assets, personal rehabilitation
The personal rehabilitation system due to non-payment of cell phone bills is simple. Simply put, individual rehabilitation is a system that allows you to pay 100% of interest on all debts and up to 90% of principal if you pay the rest of your monthly income minus the minimum cost of living for a minimum of 36 months to a maximum of 60 months. Individual rehabilitation can be used regardless of any occupation, such as an office worker, part-timer, freelancer, self-employed person, or civil servant with a certain income. Conditions are, credit loans including mobile phone bills are less than KRW 1 billion and mortgage loans are less than KRW 1.5 billion.
Things to be aware of when doing personal rehabilitation
1. There may be restrictions on the use of mobile phones.
If various mobile phone carriers (LG U+, SKT, KT) are included in the list of individual rehabilitation creditors, it may be difficult to open the service for the time being. Also, if Seoul Guarantee Insurance, the guarantor of the telecommunications company, is on the list of creditors, purchasing a handset in installments is also restricted. However, if you need to use your mobile phone, you can use it by opening another carrier, or if you have all debts with 3 carriers, you can change it to a prepaid phone.
2. If the amount is too small, it may not proceed.
If the debt is less than 10 million won, including unpaid mobile phone bills and all debts, it is impossible to proceed with personal rehabilitation. You must have a debt of at least 10 million won to apply for personal rehabilitation, and if you have only a small cell phone fee, you may not qualify for personal rehabilitation. Therefore, if you want to use the personal rehabilitation system more advantageously for yourself, it is recommended that you include your mobile phone bill and all debts together. For example, if there are credit card payments, rental fees, various utility bills, personal creditors, etc., it is advantageous to proceed together.
3. Never leave out creditors.
If you want to proceed with personal rehabilitation for unpaid cell phone bills, submit a debt certificate to the telecommunications company. In the case of terminal installment payments, Seoul Guarantee Insurance is often set as the guarantor. Therefore, if you put the telecom company in the personal rehabilitation creditors, you must also check the Seoul Guarantee Insurance. If you are overdue for a considerable period of time with the telecommunications company, Seoul Guarantee Insurance will subrogate you. Then, the creditor becomes Seoul Guarantee Insurance. Therefore, the Seoul Guarantee Insurance Debt Certificate must be issued together with the cell phone carrier.
Today, if there is an unpaid cell phone bill, we informed you about a smart way to respond through the personal rehabilitation system. Even if it’s a cell phone bill, you might say that the amount is large, but if the small amount is overdue and piles up, it can become unbearable. Therefore, if you already have a lot of debt or are suffering from excessive debt due to unpaid cell phone bills, we recommend using the personal rehabilitation system.