[Korea Financial News] NPL marketing, public debt collection permit required
Salpyeoya debtor agent system expansion side effects
The term 'collection' is used in several ways, but "on the Use and Protection of Credit Information Act, the feature stringent requirements means the work to take place of someone else's money for a fee in return receive permission from the FSC credit We can set up a company.
Therefore, the loan to buy a bond or a contractor and has totally different credit information companies can not do debt collection work of the above mentioned means.
The current domestic has 24 credit information company operating into after the 1995 Credit Information Act was enacted jyeoteuna the quantitative growth of the credit information company made in the wake of the financial crisis in 1997 the scope of work, unlike credit information companies in developed countries such as the US and Japan, There is too much restriction is necessary to improve it.
Priority should allow the sale of non-performing loans. In order to lenders who buy the bad loans that are established only by local governments or the Financial Services Commission registered should have more than 300 million won capital, but credit companies will be established should have strict conditions, including more than 3 billion won in capital and human and material facilities, and non-performing loans there is a long history and know-how relating to the number of complaints can be prevented by a legitimate debt collection and efficiently perform the task.
Of financial consumers if non-performing loans is through the sale process of several introduced to the unlisted lender or loan shark Given the high risk of illegal collection and your credit information companies have to buy the bad debt arising in the blind spot of directors It will be able to significantly reduce the damage.
In addition, the improvement is an urgent need for such a delinquent tax, local taxes, national debt so that your credit information companies can take collection consignment. For automotive environment improvement charges levied a 236.6 billion won last year, trillion, but the US sunapaek came to 686.3 billion won jingsuyul is only 40.4%.
In addition to the environmental improvements it is deductible in many countries debt is in arrears, and tax deficits are disposed of each year about 8 trillion won.
If you commit these national debt and recovery operations of the public debt arrears, including tax receivables to credit information companies inequalities and the majority of the people that securing the lack of tax revenue to increase the efficiency of the state administration, as well as faithfully pay can also be eliminated .
Whereas the necessary NPL sale permit, public debt collection entrusted to the debt collection market advancement recent expansion of the debtor applies to the agent system, which is being promoted greater concerns arise not only get the intended results side-effects.
Debtor agent system or credit the consumer representative institutions is an integral contact behavior of the debtor if a lawyer, appointed a legal entity such as agents and creditors notice of the fact that the creditor is able to contact only those agents and borrowers who visits, mail, phone, etc. He says the system can not be.
About the debtor agents Islands' laws on fair collection of debt (debt collection law) Amendments to the Act on Consumer Credit Protection "there (Consumer Credit Protection Act) are enactments The initiative of this system, which is applicable only to the current lender it is the main content of the legislation that applies to all financial institutions.
Debtor agent system can be exploited as a means to the debtor deliberately avoiding debt, financial institutions lending for such moral concerns hazards to avoid credit and will be considering the delinquency rate rises to raise interest rates further common people and jeosinyongja the it will be avoided.
Eventually ordinary debtors to be protected by a debtor representative institutions rather most of the risk of illegal debt collection liquidate dosarineun financial institutional outside of unregistered lenders and sincere debt is rushes in to illegal loan shark financial consumers will eventually suffer damage do.
Also, if you restrict the rights of the legitimate creditors in order to protect the debtor's privacy has to comply with the proportionality principle they should have a legitimate purpose, suitable means, rights violations minimized, and the legal interests balancing creditors guaranteed by Article 23 of the Constitution the property is also the unconstitutional in that it is too limited.
Currently, Korea is a private recovery, insolvency, indemnity, individual workout, National Happiness fund various public debt restructuring scheme that has been well-run, regulation of the financial supervision authorities to prevent illegal collection, debt collection business guide to the debtor protection line ', TF operations, if the supervisory authorities, financial institutions through such self-regulation of the industry, credit information companies consider that focuses on the debtor protection in a variety of ways mass victims of goodwill and the economy for financing 5 daeak combat expansion of the debtor agent system that can confuse needs a careful review.
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