2023-09-29 11:12:14
▲Photo: Yonhap News It was found that the number of young people in their 30s or younger who were registered as financial debt defaulters following borrowing money from a financial institution and failing to repay it on time increased by regarding 17,000 in the past 6 months.
According to data submitted by the Korea Credit Information Service to Jin Seon-mi, a member of the Democratic Party of Korea and a member of the Planning and Finance Committee of the National Assembly, there were regarding 231,200 people in their 30s or younger who defaulted on their financial debt as of the end of June this year, an increase of regarding 17,000 in six months compared to the end of last year. It was calculated that there was an increase of 1,000 people.
If the loan interest is overdue for more than 90 days, you are registered as a financial debt defaulter and financial transactions are suspended. Among all financial debt defaulters, 29.75% were in their 30s or younger.
In particular, the ‘registered amount’, which refers to the remaining loan principal of financial debt defaulters, also showed an increasing trend.
The average registered amount of financial debt defaulters under the age of 29 increased from 21.5 million won at the end of last year to 23.7 million won at the end of June this year, and for those in their 30s, it also increased from 34.6 million won to 39 million won during the same period.
The number of young people who cannot bear the debt and ultimately choose personal rehabilitation is increasing.
According to the ‘Status of Personal Rehabilitation Applicants for the Past 3 Years’ data received from the Supreme Court by Rep. Jin Seon-mi, the number of personal rehabilitation applications for people in their 20s and 30s in the first half of this year was 24,244, compared to 36,248 in 2021 and 40,494 last year. When compared, it appears that there is a high possibility that it will increase this year compared to last year.
Rep. Jin said, “The debt burden of young people may expand into overall financial insolvency,” and “It is urgent for financial authorities to come up with management and relief measures.”
#Bad credit #Financial debt defaulter #Personal rehabilitation #Debt #Jin Seon-mi
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