DEBT CANCELLATION SYSTEM - PERSONAL BANKRUPTCY GUIDE .

ELIGIBILITY FOR PERSONAL BANKRUPTCY



DEBT CANCELLATION SYSTEM - PERSONAL BANKRUPTCY  GUIDE .
DEBT CANCELLATION SYSTEM - PERSONAL BANKRUPTCY  GUIDE .



There is an application for bankruptcy of the credit recovery committee for personal rehabilitation as a typical way of repaying the debt.


In the case of government debt relief, personal bankruptcy is a system in which, if all of your property is disposed of and you can not pay off your debt, you will give up all of your property and distribute it fairly to all creditors, is.

1) Personal bankruptcy conditions: If you are an income earner with a minimum cost of living,
2) Personal Bankruptcy Procedures: The reasons for personal bankruptcy exemptions are broadly defined.

- Personal bankruptcy Disclaimer prohibitions reasons

▲ property changes the name or act of selling a bargain
acts hid or destroyed the ▲ property
▲ Create a creditor list to be false, stating the act of
increasing the ▲ debt to be false, reduces the act of
personal regenerative these reasons If you do not use the procedure and apply for a personal bankruptcy indemnity, you may be dismissed as an abuse of your bankruptcy petition and your personal bankruptcy and indemnification.

3) How to apply for personal bankruptcy Submit


personal bankruptcy application documents to the local resident centre.


The personal bankruptcy procedure will file a civil bankruptcy filing after filing for bankruptcy.


The personal bankruptcy indemnity will then be determined if the bankruptcy trustee reports to the bankruptcy trustee after preparing for the bankruptcy trustee report on the personal bankruptcy indemnity.

4) Personal bankruptcy filing


fees There are personal bankruptcy procedure costs such as accruals, transfer fees, and other fees and other fees paid to lawyers and lawyers.


Of these, the transmission cost is the most important, depending on the number of creditors, and when the number of creditors is five, it is about 260,000 to 300,000 won.



ELIGIBILITY FOR PERSONAL RECUPERATION


If you are not eligible for personal bankruptcy, find out if you qualify for personal resignation.
An individual cancellation system for debt relief is a system that cancels all remaining debts if you have been faithfully performing the reimbursement plan authorised by the court for three years.

The period of plan for reimbursement of personal remedies has been shortened from the original five years to the last three years.

1) Eligibility for individual regeneration
▲ More debt than property
▲ Total debts are 500 million won for unsecured debts and under 1 billion won for secured debt
▲ Income above the minimum cost of living
▲ Domestic residents with a debt amount of 15 million won or more


2) Personal Benefits 

You will be able to get out of collection and foreclosure, forgive all interest and principal debt, and have your own property.


If you are a sincere patient who has been paying your personal reimbursement in good faith, you can use your personal loan as a personal loan as well as the credit during recovery.

3) Personal rehabilitation application fee There are  significant court expenses and attorney appointment fee.

Attorney fees are calculated differently for each office, and the cost of the court varies depending on the number of creditors.


NATIONAL HAPPINESS FUND DEBT ADJUSTMENT




Debt relief for long-term debtors who have difficulty living due to long-term delinquency.
The National Happiness Fund is a system that adjusts the repayment period so that some of the debts are forgiven and repayable up to 10 years.


Those who are eligible for the National Happiness Fund, who are clients of overdue bonds acquired by the National Happiness Fund, need only proof of income, a copy of resident registration, and identification documents.





thanks for the time .

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