South Chungcheong Province expands financial welfare support policy... Strengthening the connection between debt restructuring, law, and credit recovery

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South Chungcheong Province announced on the 30th that it will expand financial welfare support policies to help the economic recovery of residents suffering from excessive debt.

If welfare services, such as housing or employment, are needed, support is provided in connection with related organizations such as town, township, and dong administrative welfare centers.

The province is expanding the agreement with the Korea Legal Aid Corporation and the Credit Recovery Committee to strengthen linkages from debt adjustment applications to legal and credit recovery support.

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(Hongseong = Yonhap News) Reporter Kim Jun-beom = South Chungcheong Province announced on the 30th that it will expand financial welfare support policies to help the economic recovery of residents suffering from excessive debt.

The province guides the issuance of documents necessary for personal rehabilitation and bankruptcy applications and provides connection and support to the Legal Aid Corporation.

We also provide guidance on the credit recovery system and application process and assist with online applications and applications for the New Start Fund.

If welfare services, such as housing or employment, are needed, support is provided in connection with related organizations such as town, township, and dong administrative welfare centers.

The province is expanding the agreement with the Korea Legal Aid Corporation and the Credit Recovery Committee to strengthen linkages from debt adjustment applications to legal and credit recovery support.

Chungnam Financial Welfare Counseling Centers are operated free of charge in Cheonan and Hongseong.

In the first half of this year, 1,023 financial welfare consultations were conducted.

Among them, 132 people were supported in applying for debt restructuring worth 7.7 billion won, including bankruptcy and credit recovery.

A provincial official said, “We will provide support so that residents suffering from excessive debt and bond collection can have a stable new start.”

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