What to do if you owe money and can t pay it back

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.

The debtor's insolvency is usually dealt with in the following ways: 1. Negotiate with the debtor to obtain the details of the other party, and the debt can be appropriately extended or reduced; 2. If the debtor does not agree to the extension or reduction of debts, the debtor will sue in court, which can generally be delayed for half a year to one year for the debtor; 3. There is really no money to repay, even if the lawsuit is won, the court enforcer knows that the debtor has no money and cannot be enforced. It can be executed when there is a capacity to repay.

1. What should I do if I owe money and can't repay it?

1. The debtor's inability to repay is usually dealt with in the following ways:

1) Negotiate with the debtor to obtain the details of the other party, and may appropriately extend or reduce the debt;

2. If the debtor does not agree to the extension or reduction of debts, the debtor will sue in court, which can generally be delayed for half a year to one year for the debtor;

3. There is really no money to repay, even if the lawsuit is won, the court enforcer knows that the debtor has no money and cannot be enforced. It can be executed when there is a capacity to repay.

2. Legal basis: Article 249 of the Civil Procedure Law of the People's Republic of China.

If the person subject to enforcement fails to perform the obligations set forth in the legal document in accordance with the enforcement notice, the people's court has the right to inquire about the property of the person subject to enforcement, such as deposits, bonds, shares, and shares. The people's courts have the right to seize, freeze, transfer, or sell the property of the person subject to enforcement according to different circumstances. People's courts must not inquire about, seize, freeze, transfer, or sell property beyond the scope of the obligations that the person subject to enforcement shall perform.

When a people's court decides to seize, freeze, transfer, or convert property, it shall make a ruling and issue a notice of assistance in enforcement, and the relevant units must handle it.

2. What happens if you owe money and can't pay it back?

If the people's court applies the summary procedures to try the case, it shall complete the trial within three months of the date on which the case is filed. The court will usually order repayment within one month of the date of the judgment. If you owe money and are unable to repay it, you need to respond positively to the lawsuit according to the actual situation.

If the debtor is unable to repay the debt, the best course of action is to negotiate a repayment plan or other solution with the debtor to protect the creditor's interests as much as possible, while also taking into account the debtor's actual situation.

First of all, you can negotiate with the debtor to develop an installment repayment plan, and make a reasonable repayment plan according to the debtor's financial situation and ability to repay. When formulating a repayment plan, it is necessary to consider the debtor's ability to repay and financial situation comprehensively to ensure the feasibility of the repayment plan.

If the debtor is in a very difficult financial situation and cannot come up with a reasonable repayment plan, you can consider debt restructuring and other ways to resolve the arrears. Debt restructuring refers to the restructuring and adjustment of the debtor's debts through negotiation, repayment plan or other means, so as to achieve mutual benefit and win-win results for both creditors and debtors.

It should be noted that when negotiating with the debtor, it is recommended that you seek professional legal and financial advice, which can help you ensure the legitimacy and reasonableness of the negotiation plan, and also help protect the rights and interests of creditors.

If you owe money and are unable to repay it, you can negotiate with creditors to defer the repayment of the debt. If it is really impossible to realize the debt, the property on the spot can only be used as collateral to repay the debt. However, if the court refuses to enforce the case because it has the ability to repay the loan, the court may detain the losing party on the grounds of refusal to execute.

Legal basis: Article 108 of the Civil Code Debts shall be repaid. If it is temporarily unable to repay, the debtor may repay it in installments with the consent of the creditor or the ruling of the people's court. and where they have the ability to repay and refuse to repay, the people's court is to make a judgment to compel repayment.

Legal analysis: According to the relevant laws and regulations of China, in the case of inability to repay the money owed, the parties can agree to pay in installments, but the infringed party has the right to request the corresponding guarantee.

Legal basis: Article 1187 of the Civil Code of the People's Republic of China After the occurrence of damage, when the person concerned by Lu Li can negotiate the payment method of compensation. where there is a disagreement through negotiation, the compensation fee shall be paid in a delayed manner; If it is really difficult to make a one-time payment, Danmeng can pay it in installments, but the infringed party has the right to request the corresponding guarantee.

There are two different situations 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.

PrecautionsBe cautious about borrowing between private individuals. If the amount is large, in addition to the IOU, the borrower should also provide a guarantee or use a certain property as collateral as much as possible, so that He Ran Town can reduce the risk.

Legal Analysis: In practice, there are two different situations in which a debtor is unable to repay: one is a temporary insolvency.

If this is the case, the debtor may repay the loan in installments in accordance with the relevant provisions of the above-mentioned Civil Code. The other is that the suspect is permanently unable to repay. 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 execution in Qinhuai, that is to say, the debtor has as many respondents' property as there is for enforcement, and the creditor will take as much as possible.

Legal basis: Article 678 of the Civil Code of the People's Republic of China The borrower may apply to the lender for an extension of the loan period before the expiration of the repayment periodIf the lender agrees, it can be extended.