What to do if you are unable to pay your debts, what to do if you are unable to pay your debts

If the debtor is unable to repay the debt, according to the provisions of the Civil Procedure Law of China, under normal circumstances, if the debtor is unable to repay the money after owing it, then the creditor can apply to the court of the jurisdiction for enforcement.

After enforcement, the court can auction the debtor's real estate and car, as well as movable or immovable property such as **.

If the debtor has no property, he may be blacklisted by courts across the country. After being blacklisted, the debtor is restricted from spending highly.

Article 224 of the Civil Procedure Law of the People's Republic of China stipulates that legally effective civil judgments and rulings, as well as the property portion of criminal judgments and rulings, shall be enforced by the people's court of first instance or the people's court at the same level as the people's court of first instance where the property subject to enforcement is located.

Other legal documents that are to be enforced by the people's courts as provided by law are to be enforced by the people's court at the place where the person subject to enforcement is domiciled or where the property subject to enforcement is located.

There are two different scenarios in which a debtor becomes insolvent, and the solution is as follows:

1. Temporary inability to repay.

In this case, the debtor may repay the loan in instalments.

2. Permanent insolvency.

If it is permanently unable to repay, it can only be repaid on the debtor's existing personal property, which must be heard by the court, make a judgment, and then put into enforcement, that is to say, the creditor will take as much as the debtor's personal property can be enforced.

PrecautionsBe cautious about borrowing between private individuals. If the amount is large, in addition to the IOU, the borrower should provide security or collateral with a certain property as much as possible, so as to reduce the risk.

Legal Analysis: Insolvency should require liquidation. The debtor's inability to repay is divided into two different situations: temporary insolvency and permanent insolvency.

In the case of the former, it may be agreed that the debtor will repay the loan in instalments. If it is permanently unable to repay, the debtor's personal existing property can only be repaid, which is subject to the court's hearing, judgment, and then enforcement.

Legal basis: Article 236 of the Civil Procedure Law of the People's Republic of China: Parties must perform on legally effective civil judgments and rulings. If one party refuses to perform, the other party may apply to the people's court for enforcement, or the adjudicator may transfer it to the enforcer for enforcement.

The parties must perform the mediation document and other legal documents that shall be enforced by the people's courts. If one party refuses to perform, the other party may apply to the people's court for enforcement.

Legal analysis: 1. The consent of the creditor can be obtained to pay the debt in installments.

2. The creditor has the right to apply for compulsory enforcement.

3. If it is an enterprise, it is necessary to apply for bankruptcy and carry out bankruptcy liquidation.

Legal basis: Article 188 of the Civil Code of the People's Republic of China in Chala: The statute of limitations for requesting protection of civil rights from the people's courts is three years. Where the law provides otherwise, follow those provisions.

The limitation period is calculated from the date on which the right holder knows or should know that the right has been damaged and the obligor. Where the law provides otherwise, the concealment is to follow those provisions. However, if more than 20 years have elapsed since the date on which the rights were infringed, the people's courts will not protect them, and if there are special circumstances, the people's courts may decide to extend them on the basis of the rights holder's application.

If the creditor requests the debtor to pay money and valuables, and the following conditions are met, Qinghua may apply to the basic people's court with jurisdiction for a payment order:

1) The creditor and the debtor have no other debt disputes.

2) The payment order can be served on the debtor.

3) The application shall clearly state the amount of money or valuable ** requested and the facts on which it is based, as well as the evidence.

Article 189 of the Civil Procedure Law: If a creditor requests the debtor to pay money or valuables, it may apply to the basic people's court with jurisdiction for a payment order if the following conditions are met:

1) The creditor and the debtor have no other debt disputes.

2) The payment order can be served on the debtor.

3) The application shall clearly state the amount of money or valuable ** requested and the facts and evidence on which it is based. Acacia wax.