This is information you should know if you have been rejected for a loan due to bad credit due to a late payment record. Normally, when a payment is 3 months overdue, the Credit Information Service registers a delinquency record for 1 year, and even if the payment was made due to a 5-year delinquency history, cards and loans were not available. Once your delinquency record is deleted, you can freely use cards and loans. This alone can give small business owners some breathing room.
There is information you need to know from this government announcement. To be eligible for immediate delinquency record deletion, you must repay the entire loan by the end of May this year. We will recommend small business loan products, so if you are in a hurry, please quickly check the information on small business loans and subsidies below and take advantage of them.
Apply for the 24-year small business policy loan
Apply for the 24-year small business special loan
Receive a 24-year small business interest refund
Support for deleting loan delinquency records
Support for deleting loan delinquency records will be provided before Lunar New Year for small business owners and vulnerable groups who defaulted on their loans during the COVID-19 pandemic. Because it deletes loan delinquency records, it is called a credit amnesty measure. However, please note that this does not provide a reduction of loan principal, interest, or interest on overdue payments. Nevertheless, once the delinquency record is deleted, restrictions on card use and loan use disappear, and the loan interest rate may be lowered and the limit may be increased. ·
Information subject to deletion of delinquent records
1. Announcement: Credit amnesty
2. Eligible for support
· From September 21 to January 24
· Those with delinquent debt of 20 million won or less
· However, full repayment condition is required by the end of May this year.
3. Application period: To be announced later
📌 How to use cash advances and card loans while maintaining your credit rating
Check your credit rating
In fact, anyone can improve their credit rating if they work hard. Please refer to the information below on how to improve your credit rating and check your credit score through free inquiry.