채무조정 차주의 기한이익상실에 미치는 결정요인 연구: 국민행복기금을 중심으로

The purpose of this paper is to explain the determinants of the re-default’s possibilities of the debtors who applied for the National Happiness Fund’s debt relief program between 2013 and 2019, and then to see whether those effects vary depending on debtors’ characteristics. The commitment information for debt’s re-adjustment, such as contracted debt amount, repaying period, individual debt amount, overdue months of underwriting debt and real reduction rate have positive effects on possibilities of the written-off debtor’s re-default, but minimum living cost leads those re-default probabilities to make lower. Considering borrowers’ characteristics, we find the facts that guaranteed liabilities are less connected with re-default event than main debts, re-commitment debtors tends to have higher re-default rates than newcomers, and individual underwriting debts are likely to re-default more. The contribution of this paper is to use categorized continuous variables as explaining variables for examining the determinants of the re-default of the written-off borrowers and to shed lights on the importance of considering debtors’ characteristics for managing debt-relief program effectively.