What is personal recovery plan?

Individual rehabilitation is a system in which courts forcibly rebalance debts to relieve bankruptcy for those who suffer from excessive debts.

All workers who are likely to earn income continuously or repeatedly in the future are eligible.

If you reimburse the court-adjusted amount for a period of time, you can be relieved of the debts on the remaining principal and interest.

The personal rehabilitation system adjusts the legal relations of interested parties, such as creditors, to those who are likely to earn income continuously or repeatedly in the future as individuals who are faced with bankruptcy due to financial difficulties. As a procedure prepared to promote

It was implemented from September 23, 2004. In other words, in the case of an individual rehabilitation system, the total debt is 500 million won in the case of unsecured debts, and in the case of collateralized debts.
This is a procedure where a person who is less than 1 billion won as a personal debtor and who is likely to earn income continuously or repeatedly in the future can be exempt from the remaining debts by repaying a certain amount for 3 to 5 years.

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Service is available in all areas of Korea.

(Seoul, Seocho, Gangnam, Uijeongbu, Suwon, Busan, Bucheon, Guro, Yongin, Daejeon, Daegu, Changwon, Ulsan, Cheonan, Cheongju, Incheon, Jeonju, Ansan, Ilsan, Wonju, Gwangju, etc.)

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