New Policy on Insolvency, New Policy on Insolvency 2

For the debtor's inability to repay the debt, the following methods can be adopted:

1. With the consent of the creditor, it can be repaid in installments. Article 108 of the General Principles of the Civil Law stipulates that debts shall be repaid.

If the debtor is temporarily unable to repay the debt, the debtor may repay it in installments with the consent of the creditor or the ruling of the people's court. Where there is a capacity to make restitution and refuses to do so, the people's court is to make a judgment to compel restitution.

2. Creditors have the right to request compulsory performance. The rules of article 236 of the "Civil Procedure Law of the People's Republic of China" shall apply to civil judgments and rulings that produce legal effect. If one party refuses to perform, the other party may request the people's court to compel performance, and the judge may also transfer the case to the performer for performance.

3. The enterprise shall request bankruptcy and carry out bankruptcy liquidation. Bankruptcy refers to the fact that when all the assets of the debtor cannot pay off the debts due, the creditor compensates the debtor's assets equally through certain procedures, so that the debtor is exempted from other debts that cannot be discharged, and the court declares bankruptcy and dissolves.

In accordance with article 236 of the Civil Procedure Law, the parties must perform on civil judgments and rulings that take legal effect. 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 new policy of insolvency allows for a deferral of repayments with the consent of creditors.

The Civil Code (effective on 1 January 2021) stipulates that debts should be discharged. 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. It follows that it is certain that the debtor must repay the debt. However, there are two situations in society where debts are not repaid, one is unable to repay, and the other is the ability to do so but refuses to repay.

The Civil Code only provides for the above-mentioned principles.

Generally speaking, as long as the debt relationship is legal and valid, the repayment obligation will not be exempted because the parties are temporarily unable to repay, unless the creditor agrees, in addition to deferring the repayment, it can also negotiate with the creditor to repay the loan in installments, and in addition, if the transfer of property reaches the appearance of insolvency, the creditor can apply for property preservation.

1. With the consent of the creditor, it can be repaid in installments.

2. Creditors have the right to request compulsory performance.

3. The enterprise shall request bankruptcy and carry out bankruptcy liquidation.

ArrearsInsolvency 20221. Article 108 of the General Principles of the Civil Law stipulates that "debts shall be repaid. For the time beingInsolvencyWith the consent of the creditor or the ruling of the people's court, the debtor may be paid in installmentsRepayment

YesAbility to repayNoRepaymentand the people's court shall make a judgment to compel itRepayment。"It follows that the debtor must:RepaymentDebt is for sure. But at present, there is no social debtRepaymentThere are two scenarios, one isInsolvency, the other one is thereCapabilitiesAnd refusedRepayment

2. In practice, the debtorInsolvencyThere are two different situations: one is temporaryInsolvency。If this is the case, the debtor may be paid in installments in accordance with the relevant provisions of the above-mentioned General Principles of the Civil LawRepayment

The other is permanentInsolvency。If permanentWeaknessIn the case of settlement, it can only be paid in respect of the debtor's existing personal propertynowThis will have to be tried and done by the courtoutThe judgment is then enforced. According to the data, as of 2019, the total amount of debt of Chinese residents has reached 200 trillion yuan, and the per capita debt has reached 140,000.

Let our country suddenly change from a big savings country to a big debt. The main factors leading to this situation include high prices, the popularity of advanced consumption, and the high demand for entrepreneurial loans. It's like taking out a loan to buy a house, and you owe millions of loans and interest in minutes, which need to be repaid for more than ten years or even decades.

It stands to reason that it is natural to repay debts, but this year, new regulations were released, and there are several types of debts that can be repaid.

1. With the consent of the creditor, it can be repaid in a macro period.

2. Creditor Zheng Douji has the right to request compulsory performance.

3. The sales enterprise shall request bankruptcy and bankruptcy liquidation.

According to the Civil Code of the People's Republic of China, which came into effect in 2021, if a party is unable to repay its debts, it shall bear the liability for breach of contract; The creditor may apply to the people's court for enforcement of the debtor's property.

[Legal basis].Article 577 of the Civil Code of the People's Republic of China.

If one of the parties fails to perform its contractual obligations or the performance of its contractual obligations does not conform to the agreement, it shall bear the liability for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.

Article 676.

If the borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest in accordance with the agreement or the relevant provisions of the state.