Differences in Individual Rehabilitation Bankruptcy Application Cost Conditions Procedures
Recently, prices have continued to rise, and more and more people are facing an economic crisis. The more difficult the timing is, the more people will inevitably end up in financial bankruptcy. Once the credit problem begins due to the failure to repay the debt in time, it will be difficult to make additional financial transactions, which is likely to lead to a situation in which interest as well as principal cannot be repaid. If you can’t get out of such a yoke, you’ll feel frustrated, but what you need to look into at such a time is the debt adjustment system. It can be understood that it is a system that helps individuals in crisis and finds a way out of financial bankruptcy. If you want to receive support from this system, you should closely examine the difference in personal rehabilitation bankruptcy costs, the process, and qualification conditions in advance.
At first glance, the differences in the conditions of individual rehabilitation bankruptcy seem to be similar, so there are many cases where you don’t know the clear difference between the two systems, but there are differences in qualification conditions that you can apply for.1. Unlike bankruptcy, which has nothing to do with no income, rehabilitation requires the debtor to have a certain income. You have to prove yourself that you can continue to earn more than the minimum living expenses due to working income and business income.2. Another condition for rehabilitation is that the amount of debt must not exceed a certain level. The upper limit is set at 1 billion won for unsecured debts and 1.5 billion won for unsecured debts. On the other hand, in the case of bankruptcy, there is no limit to the total debt.3. If you don’t have more debt than assets, you can’t apply for rehabilitation.Differences in Individual Rehabilitation Bankruptcy Application Cost Procedures1. First of all, after filing for bankruptcy, you must continue to file for immunity. We have to separate the declaration of bankruptcy from the impunity. Therefore, a declaration of bankruptcy does not necessarily lead to an exemption decision, and in some cases, an exemption decision is not made at the end.2. Rehabilitation is carried out by cancelling the remaining debt to the person who has faithfully repaid the repayment for a certain period of time. Therefore, you must first prepare and submit a practical repayment plan, which leads to a decision on immunity after the repayment is paid in full.difference in the repayment process of personal rehabilitation bankruptcy1. The bankruptcy system is chosen by people who do not earn a certain amount of income, so it cannot proceed by repaying them little by little in the long run. Instead, they dispose of the debtor’s property and then partially liquidate the bonds.2. As mentioned above, in the case of rehabilitation, part of the repayment must be faithfully repaid for a specified period of time. At this time, the minimum monthly living expenses are guaranteed, so the remaining amount will be calculated as a repayment after subtracting the minimum living expenses from the total income.What we need to focus on in individual rehabilitation is income activities and proof of them. The qualification is given by focusing on whether you are capable of repaying the repayment for a fixed period of time, so you have to meet that part first. At this time, job restrictions are not set separately, and even if you are working as a part-time or daily worker as well as a full-time job, you can get help from the system through income certification.Another advantage of the rehabilitation system is that it can stop collecting bonds. Since it can escape the pressure from the outside, it can prevent damage to daily life in the process of going through the system procedures. Debt generated by stocks or gambling can also be supported, and all types of debt, including bank loans and debts incurred between individuals, are included in the cancellation list. Next, if you look into bankruptcy in more detail, you can apply when there is a long-term delinquency of more than three years in practice. Therefore, in a way, those filing for bankruptcy can be seen as much more in crisis than those filing for rehabilitation. If it is judged that it is possible to repay due to continuous income, it may be rejected, so you should first examine the difference in the cost of filing for personal rehabilitation bankruptcy and apply for a system that suits the situation.If you’re worried about the cost of filing for personal rehabilitation bankruptcy1. Because each system has its advantages and disadvantages, I can’t say that either is more advantageous to either system. Therefore, it is necessary to choose wisely depending on the specific debt status and current situation.2. If it is difficult to judge wisely by one person’s power, it is desirable to get help from an agent with practical experience without overdoing it. This is because when you are with an assistant, you can quickly sort out the situation of financial collapse.If you search the Internet, you can get information without any shortage, so it is easy to think that even one person can fully understand and proceed with personal rehabilitation bankruptcy. Of course, it is not impossible to proceed without an assistant, but it is wise to consult with an agent as much as possible for stable progress and results. In particular, if you have already received several adjustment recommendations, actively finding helpers and following advice will be a quick way to get a decision.The same is true of cases where the difference in personal rehabilitation bankruptcy is still not well understood. With the help of an agent, you can clearly understand the difference between the two systems, and you can also understand what kind of system is suitable for you in your situation. If you are not afraid to ask yourself and take a more active attitude, you can make the situation more favorable to you. Therefore, it is recommended that you get one-on-one help through counseling from the beginning rather than just thinking about the commission fee in front of you right away.Previous image Next imagePrevious image Next imagePrevious image Next imagePrevious image Next imagePrevious image Next imagePrevious image Next imagePrevious image Next image