Sinbokwi Credit Welfare Consulting, Over Half See Credit Scores Rise... Maximum Increase of 433 Points

[Asia Economy Reporter Song Seung-seop] Mr. A, a man in his 40s, had his debt adjustment confirmed but was repeatedly denied credit card issuance due to a low credit score. He then used credit welfare consulting to confirm and remove the remaining delinquency information. Following the consultant's advice, he registered his payment history of communication bills with the credit evaluation company KCB and was issued a small credit card for diligent debt adjustment repayers, which he consistently used below 50% of the limit. Mr. A's credit score improved from the 550s to the 910s after six months.

More than half of the users of credit welfare consulting from the Credit Recovery Committee saw an increase in their credit scores last year.

According to the Credit Recovery Committee on the 3rd, 57% of consulting users in the second half of last year saw their credit scores rise by an average of 48 points after six months. Out of a total of 7,561 users, 4,311 raised their scores from an average of 613 to 661. There was even a user whose score increased by 433 points from 500 to 933.

Credit welfare consulting is a service provided by the Credit Recovery Committee to effectively support the economic recovery of debt adjustment users. Professional consultants guide credit management tips over the phone and connect users to welfare support.

The Credit Recovery Committee analyzed that faithful fulfillment of debt adjustment and registration of non-financial information are the main factors for credit score improvement. They also explained that there is a pattern of consistently using debit and credit cards while utilizing policy-based financial products for low-income earners, such as the Sunshine Loan, when a large sum of money is needed.

The Credit Recovery Committee is significantly improving the service to enhance the consulting effect. Last month, to strengthen consulting capabilities, the number of professionals was increased from 18 to 30. Mobile consulting was also added to improve user convenience.

Lee Gye-moon, Chairman of the Credit Recovery Committee, emphasized, “We provide non-face-to-face services without visits so that customers can conveniently undergo debt adjustment and have expanded connections with regional councils. This year, we are focusing our efforts on expanding and developing credit welfare consulting to promote the financial stability of debt adjustment users.”

This content was produced with the assistance of AI translation services.