South Korea’s Fresh Start Fund Buys ₩6.6 Trillion in Debt, Recovers Just 3.4%; Re-Delinquency Rate Hits 8.7% — BigGo Finance

The Fresh Start Fund, created to help small business owners and vulnerable borrowers get back on their feet, has purchased debt approaching ₩6.6 trillion (approximately $4.9 billion), yet has recovered only 3.4% of that amount. With roughly one in eleven borrowers who received debt restructuring falling back into delinquency, questions are mounting over the program’s…

What Is a Debt Management Plan?

If you’re struggling with out-of-control debt, a debt management plan (DMP) may be able to get your interest rates lowered and late fees waived. DMPs are usually offered by credit counseling services as part of a portfolio of financial asistance options. While these agencies are nonprofits, a DMP usualy comes with startup and monthly fees…