Debt adjustment program for self-employed people affected by COVID-19
Launched this week… Simultaneous online and offline application
Reduction of net debt principal only for ‘insolvent borrowers’
After the review, an adjustment plan is prepared… It takes about two months to sign up
[앵커]
The New Start Fund for the self-employed and small business owners who are suffering from COVID-19 will be officially launched tomorrow (4th).
Nearly 3,000 people applied for debt adjustment during the pre-application period alone, and it is noteworthy whether it will lead to actual burden relief.
Reporter Kang Hee-kyung reports.
[기자]
The Startup Fund is a debt adjustment program established by the government for the self-employed and small business owners suffering from the aftermath of COVID-19.
With a total size of 30 trillion won, it will be officially launched this week, overcoming the moral hazard controversy surrounding ‘forgiveness of principal’.
Earlier, during the pre-application period, which started on the 27th of last month, by the third day, nearly 3,000 people applied for debt adjustment.
Its size is 427 billion won.
From this week, offline on-site counters and online platform applications will be accepted at the same time.
The target audience is limited to borrowers who are insolvent or concerned about insolvency among individual business owners or small business owners affected by COVID-19.
Bad borrowers are people who have been delinquent on loans for more than three months, and bad borrowers are people who are at high risk of falling into long-term delinquency sooner or later.
The principal reduction is limited to insolvent borrowers, up to 60-80% of their net liabilities excluding assets.
[권대영 / 금융위 금융정책국장 (지난 8월) : 금리도 오르고 있고 환율도 오르고 물가도 오르고, 특히 원자재 부분에 대한 부담이 커지고 있기 때문에 상당히 여전히 소상공인들이 어려워지고 있고…. 재기 지원과 신용회복을 지원하는 게 핵심일 것 같습니다.]
Offline application is possible at 26 offices of the Korea Asset Management Corporation and the integrated financial support center for the working class.
On-line, the procedure proceeds in the order of identity verification, eligibility for debt reconciliation, and debt reconciliation application.
If you apply for debt reconciliation, a debt reconciliation plan is prepared after a debt reconciliation review such as an income and property investigation for about two weeks.
The government plans to operate it for up to three years after receiving applications for one year first, taking into account the re-spread of COVID-19 or economic conditions.
This is YTN Kang Hee-kyung.
YTN Kang Hee-kyung ([email protected])
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