Gyeonggi Financial Welfare Center Implements '3 Major Projects' for Financially Vulnerable Recovery

The Gyeonggi Province Financial Welfare Support Center for the Underprivileged is partnering with the Suwon Rehabilitation Court to provide swift recovery support for financially vulnerable groups.

The Gyeonggi Financial Welfare Center announced on the 3rd that it has decided to implement three major cooperative projects: the Rapid Discharge System for Vulnerable Groups, court lectures for bankruptcy declarants, and on-site consultations at the Judicial Access Center, and is currently conducting pilot projects.

The Rapid Discharge System for Vulnerable Groups allows basic livelihood security recipients who have been receiving livelihood benefits for five years to apply for personal bankruptcy through the Gyeonggi Financial Welfare Center. The Suwon Rehabilitation Court reviews disqualifications such as individual creditors and the presence of liquidated assets, and without appointing a bankruptcy trustee, simultaneously issues bankruptcy declarations, bankruptcy dismissals, and discharge decisions.

If classified as a rapid discharge case, the period, which usually took several months from application to discharge, is significantly shortened to two months unless there are special circumstances. Vulnerable groups benefit from reduced trustee appointment costs and can expect a faster recovery.

The New Start Dream Lecture is conducted by financial welfare counselors affiliated with the center on the day of the bankruptcy declaration in court for those who have just begun their recovery journey. The lecture covers legal procedures related to personal bankruptcy, basics of credit management, and welfare systems. To improve lecture efficiency, the number of attendees has been limited to a small group since mid-May as a pilot program.

Since last month, the Gyeonggi Financial Welfare Center has also been conducting on-site consultations every Tuesday (2?4 p.m.) at the Judicial Access Center within the Suwon Court Complex.

The Gyeonggi Financial Welfare Center was established in July 2015 as a Gyeonggi Province entrusted project and currently operates 19 regional centers across the province.