Long-term Student Loan Delinquents Postpone Lawsuits with a Click

KHFC announced that it would establish an electronic debt acknowledgment system on its website on September 1 to ease the burden on student loan delinquents.

Delinquents will easily be able to complete "debt acknowledgment" (a legal acknowledgement of debts by a debtor) without having to visit KHFC, submit documents, or pay fees. 

When a student loan borrower becomes more than three years delinquent, KHFC is usually required to sue immediately to protect claims. If a debtor legally acknowledges debts, the lawsuit is postponed for another three years.