|
Hana Bank will write off the debts of young credit delinquents who failed to repay money they borrowed for tuition. The bank will also erase their bad credit records. Hana Bank said Sunday it will implement a rescue policy starting in April for young credit delinquents who borrowed small amounts or took out academic loans on the guarantee of individuals or the Seoul Guarantee Insurance before August 2005.
If debtors already graduated from college, they will be exempt from paying interest with half of the principal reduced when they submit government agency-issued documents proving their jobseeking efforts. Their bad credit records will be also deleted. If debtors are still college students, they will be exempt from interest but have to pay the principal.
(englishnews@chosun.com )
|
