소액채무 3년간 잘 갚은 빈곤층 나머지 탕감<br /><br />The government laid out new measures to cancel the debts of people in vulnerable groups... such as recipients of basic livelihood security.<br />It involves readjusting the levels drastically, and even getting rid of the remaining debt of those who are faithful in repaying them. <br />Ko Roon-hee fills us in on the relief plan. <br />It's good news for people in Korea who've been struggling to pay a relatively small debt.<br />The Financial Services Commission and the Credit Counseling & Recovery Service announced on Monday... new debt forgiveness programs for marginalized groups.<br />The Credit Counseling and Recovery Service is an organization established in 2002... to support the financial recovery of low-income families.<br />Specific measures include debt relief for those who receive the government's basic livelihood security payments, recipients of disability pensions, seniors and low-income people who've been unable to pay a small debt for more than 10 years. <br />However, there are some conditions.<br />The total principal of the debt cannot exceed around 13 thousand dollars... and the borrower needs to repay in a 'faithful' manner... that is, make their promised payments for at least 3 years.<br />This is on top of the government's existing measure providing partial debt relief up to 90-percent.<br />For instance, if a basic livelihood security recipient owes 10 thousand dollars..., the government reduces the debt by up to 90 percent... leaving principal of just 1 thousand dollars.<br />And if this person pays back half of that faithfully for 3 years, then the remaining 500 dollars is cancelled automatically.<br />The Financial Services Commission says this will take effect in June... after related agreements from the Credit Counseling & Recovery Service are revised.<br />This latest measure is part of the Moon administration's efforts to build an inclusive nation... by helping low-income people get out of debt and improve their quality of life.<br />Ko Roon-hee, Arirang News. <br />
