Have you been thinking about how to proceed with personal rehabilitation?

If you are getting more and more delinquent and you can't afford to pay off your debt, it can be helpful to get debt adjustment using the personal rehabilitation system at this time.

This system is a system in which a debtor with a certain income is difficult to repay the debt, and the court reduces the debt to the extent that the debtor can repay it.

However, there are certain eligibility requirements that need to be thoroughly reviewed.

The qualifications for application are salary earners and business income earners with a certain income, and certain income even if they are employed as part-time or non-regular workers. This system is limited to individuals who have fallen into insolvency due to excessive debt or are at risk of becoming insolvent.

In addition to this, there are other conditions to be considered.

Debts must be below a certain level (unsecured debt KRW 500 million, secured debt KRW 1 billion) and the total amount of debt must not exceed the total value of assets.

The repayment period cannot exceed 5 years, and you must prove that you are insolvent, such as having more debt than assets such as owned real estate or savings.

In addition to qualifications, there are many complex conditions, so you have to judge whether you are the conditions for me to apply for the rehabilitation system!

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