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…

AI tools to help manage debt

People are using artificial intelligence more and more, including when it comes to money. According to Money Management International, their clients are finding them by asking AI for help getting out of debt. “Sixty percent of these AI-referred clients have personal loans,” Ted Rossman, with Money Management International, said. Personal loans are unsecured loans; it’s…