Gyeonggi Province's Common People Financial Welfare Support Center Excels as Guide to Debt Escape Including Household Debt

# Mr. A, a single-parent household struggling with financial hardship, found himself trapped in a debt quagmire exceeding 60 million won. He then discovered the Gyeonggi Province Common People Financial Welfare Support Center, which provides debt adjustment and financial counseling services to financially vulnerable groups. After receiving comprehensive financial counseling at the center, Mr. A filed for personal bankruptcy with the court, received a discharge decision, and was freed from his debt.

# Ms. B fell victim to identity theft in the past, resulting in 50 million won in debt. With nowhere to turn for help, she visited the Gyeonggi Province Common People Financial Welfare Support Center in frustration. Ms. B was guided through the Credit Rehabilitation Committee's individual workout program (rehabilitation support through debt adjustment), received a 90% reduction in principal debt, and received support for ultra-low-credit loans, allowing her to resolve overdue housing expenses.

[Suwon Ilbo=Reporter Park No-hun] The "Gyeonggi Province Common People Financial Welfare Support Center," which provides debt adjustment and financial counseling services to financially vulnerable groups, provided a total of 34,133 financial and welfare counseling services to 21,567 people last year.

The Gyeonggi Province Common People Financial Welfare Support Center is a counseling center established to assist residents facing financial difficulties. Centered on the "One-Stop Center" located in Uijeongbu, it operates at 19 locations across regions: four in the northern region (Yangju, Goyang, Paju, Guri), five in the western region (Gunpo, Anyang, Bucheon, Gimpo, Siheung), four in the eastern region (Hanam, Gwangju, Namyangju, Anseong), and five in the southern region (Suwon, Yongin, Pyeongtaek, Hwaseong, Ansan).

The center provides the following services: ▲debt adjustment counseling and support for credit recovery, individual rehabilitation, and bankruptcy ▲customized financial counseling to improve household finances ▲counseling for responding to illegal collection by loan companies ▲connection to ultra-low-credit loans and small-loan finance ▲information provision and support connections for residents eligible for welfare benefits.

Last year, the 19 centers provided a total of 34,133 financial and welfare counseling services to 21,567 people, including 14,223 debt counseling cases, 511 financial counseling cases, 580 welfare counseling cases, 31 debtor representative cases, and 18,788 financial and legal support cases.

Through such counseling, the center provided support for 572 personal bankruptcy cases and 72 individual rehabilitation cases, assisting with a total of 644 debt adjustment cases amounting to 327.1 billion won. Legal costs including civil advance payments were also supported for a total of 129 cases worth 40.9 million won.

Any Gyeonggi Province resident in need of financial counseling can use the Common People Financial Welfare Support Center. Counseling can be received by making a reservation through the website (http://gcfwc.ggwf.or.kr) or by calling the main number (1899-6014).

A Gyeonggi Province official stated, "We will focus on providing customized support to residents through enhancing the functions of the Common People Financial Welfare Support Center, including strengthening counselor capabilities and improving the counseling environment," and added, "We encourage any residents struggling with household debt to knock on the door of the Gyeonggi Province Common People Financial Welfare Support Center."