소액생계비대출 대상Source: Policy Briefing
The small-sum living expenses loan, which is designed to absorb the loan demand of the vulnerable class with low credit who are easily exposed to illegal financial institutions, into policy finance for the common people, has been in operation for 1 year. Over the past year, many customers of All Credit have also been curious about and interested in the small-sum living expenses loan. Now that it has reached its 1st anniversary, various changes are taking place in the small-sum living expenses loan, and All Credit has organized them based on the data released by the Financial Services Commission.
1. Re-loan permitted for those who have repaid the entire amount (from September 2024)
o Re-loan possible after repayment of the entire amount
o Final interest rate of previous loan applied (minimum 9.4%)
2. Strengthened debt adjustment (in the fourth quarter of 2024)
o Easing of maturity extension conditions and strengthening of debt adjustment support
o Linkage with the Credit Recovery Committee and support for court rehabilitation and bankruptcy
3. Support for improving repayment ability (in the second half of 2024)
o Linkage with employment and welfare and support for debt management for delinquent borrowers
o Establishment of credit and debt consulting program
Starting in September 2024, users who have repaid the entire amount of small living expenses loans will be able to re-use the small living expenses loans when they need small living expenses again. Previously, it was only available once, but now, users who have repaid the entire amount will be given the opportunity to borrow again, and the interest rate applied when re-borrowing is the final interest rate applied at the time of the previous loan repayment, with a minimum interest rate of 9.4%.
The debt adjustment support of the Korea Small Business Finance Corporation will be further strengthened in the fourth quarter of 2024. In the future, a system will be established that allows for an extension of the maturity date on the condition of paying a portion of the principal and interest if it is determined that the ability to repay interest is present even if the maturity extension conditions are not met. In addition, multiple debtors will be encouraged to use the debt adjustment system in conjunction with the Credit Recovery Committee, and expenses related to court rehabilitation and bankruptcy applications will also be supported.
Starting in the second half of 2024, one of the changes in the small-sum living expenses loan is that support for employment and welfare linkage for delinquent borrowers will be strengthened even after receiving the small-sum living expenses loan. Not only when the first loan is issued, but also after receiving the loan, guidance and linkage on employment support and welfare systems are provided to delinquent borrowers. In addition, the Korea Small Business Finance Agency plans to establish a credit and debt consulting program to help delinquent borrowers manage their debt. If you are interested in this consulting that fundamentally improves users’ repayment ability, it is recommended to receive it.
Recently, efforts are being made to improve repayment ability through financial, employment, and welfare linkage programs such as strengthening small-sum living expenses loans and providing debt adjustment support for those who are having difficulty accessing institutional loans. If the current situation is difficult, why not try to access and receive more of these improvements so that you can have a stable financial life?
※ Expert columns are a space where experts in each field independently provide information and opinions to improve readers’ credit/finance knowledge. Therefore, the information or opinions in this post may differ from All Credit’s position.
This is columnist Kim Ji-won, who understands everything from the content to the requirements of various support policies. I will inform you faster than anyone else so that you can receive it and not miss it! Recommended columns by tag
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