Starting Tuesday, the 12th, a credit amnesty to delete the delinquency records of people who still have delinquent loan records began. It is said that the delinquent records of approximately 3 million people will be deleted through this credit reduction policy.
If your delinquency record is cleared, it will increase your chances of being approved for a loan in the future. We will tell you which people are eligible for this credit forgiveness, so if you have a delinquent record, please read it carefully.
index
Background of deleting loan delinquency records through credit amnesty
Subject to credit amnesty deletion
How to check credit pardon eligibility
How to apply
Why it’s good to get credit forgiveness
Useful information to know
finish
How to check and apply for credit amnesty loan delinquency record deletion
How to check and apply for credit amnesty loan delinquency record deletion
Background of deleting loan delinquency records through credit amnesty
Generally, if a loan is delinquent for more than 3 months, the Credit Information Service preserves the delinquency record for up to 1 year and shares this information with financial institutions and credit rating companies (CBs).
In addition, credit rating companies use this delinquency record for up to 5 years when evaluating credit, so even if you repay the full amount of the overdue loan, it is not easy to get a new loan or even issue a card due to the remaining delinquent record.
The government provides the so-called ‘credit amnesty’, which deletes the delinquent records of people who have delinquent loans due to unavoidable circumstances but are having difficulties in financial transactions and economic activities due to delinquent records that remain even after repaying the delinquent amount in full. ‘We decided to implement it.
It is expected that up to 2.9 million people will benefit from this policy.
Subject to credit forgiveness and deletion of loan delinquency records
Those who will benefit from this credit amnesty are those who repay 100% of their overdue debt by the end of May this year among those with delinquent debts of 20 million won or less from September 2021 to January 2024.
How to check credit pardon eligibility
If you are curious about whether you are eligible for this credit pardon, you can easily check on the Nice Keeper site.
When you visit, you will see a button to confirm credit pardon eligibility on the left screen as shown in the picture below.
We have provided a button to go directly to the Nice Keeper website below, so please check if you are eligible right now.
Go to Nice Keeper
How to check and apply for credit amnesty loan delinquency record deletion
How to check and apply for credit amnesty loan delinquency record deletion
How to apply
Those eligible for this credit amnesty do not need to apply separately as their delinquency records will be automatically deleted if they repay all overdue amounts by the end of May of this year.
Why it’s good to get credit forgiveness
With this credit amnesty, those who have had a delinquent record will have their delinquent record deleted.
What are the benefits of delinquent records being deleted?
Your credit score increases.
It becomes possible to switch to a low-interest loan.
Those who were unable to receive a credit card due to a delinquent record will now be able to obtain one.
The possibility of issuing new loans from first-tier banks increases.
Useful information to know
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finish
So far, we have learned in detail about the credit forgiveness delinquent record deletion policy. Once this credit amnesty policy is implemented, it is expected to be of great help to those who have had difficulties in financial transactions and economic activities due to delinquent records.