[1mm Geumyung Talk] Don't Miss Out on Utilizing 'Jeonse Fraud Financial Support'

Banking Sector Financial Support Difficult to Overlap
Must Combine with Non-Financial Support from Other Companies
Actively Utilize Credit Card Company Support Measures

Financial institutions are rapidly rolling out support measures for victims of jeonse fraud. Since policies vary by company, experts advise making the most of the available benefits.

According to the industry on the 27th, banks are first offering support plans for households affected by jeonse fraud under the banner of "win-win finance." The main support measures from major commercial banks mainly consist of financial assistance such as interest reductions on jeonse loans or low-interest loans to secure funds for auction payments.

The bank offering the greatest benefits is Hana Bank. KB Kookmin Bank, Shinhan Bank, and Woori Bank reduce loan interest rates by 2 percentage points for 1 to 2 years, but Hana Bank exempts the entire interest for one year. The support targets those whose auctions have been completed or who have lost their residences. Since overlapping benefits cannot be received and there are loan balance limits for jeonse fraud support by bank, it is necessary to carefully choose the most advantageous benefits.

Unlike financial support, non-financial support can be received concurrently. Legal consultation support provided by Shinhan Bank is a representative example. Shinhan Bank, together with the Korea Legal Aid Corporation, has decided to offer free legal consultations to victims of jeonse fraud who lack legal knowledge or face financial difficulties, regardless of whether they are customers. Through this, victims can receive free support for actual costs such as litigation fees and attorney fees incurred during the lawsuit process.

It is also necessary to utilize benefits provided by credit card companies, as they can be sufficiently combined with bank support measures. Lotte Card, Hyundai Card, Samsung Card, and others have agreed to defer payment of charges for jeonse fraud victims for up to six months. They support installment payments over several months if a lump sum repayment is difficult. Samsung Card additionally exempts all interest on installment payments. In the case of Lotte Card, if the victim member is overdue, debt collection is suspended for up to six months after application, allowing installment repayments. Hyundai Card offers up to a 30% preferential interest rate when victims take out new loans. A financial industry official said, "Since victims are going through sudden disasters and hardships, we hope they make full use of financial institutions' support."

[Image source=Yonhap News]

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