Some borrowers who apply for debt restructuring through the New Start Fund are waiting up to nearly a year for a final agreement to be signed, a delay that critics say pushes back their return to normal financial transactions because overdue-payment records are cleared only once the agreement is in place.
Posts on the official online community of the Credit Counseling and Recovery Service show a series of cases in which applicants for the New Start Fund’s debt-purchase restructuring waited several months or longer for a final agreement, according to financial industry sources on the 23rd. Some received a provisional restructuring plan but had still not signed an agreement months later, while others received a…