What should I do if my business fails, and I am in debt and people keep collecting debts during the

Updated on society 2024-07-15
3 answers
  1. Anonymous users2024-02-12

    It is certain that the debtor will have to 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.

    1. If you are temporarily unable to repay your debts, you can negotiate with creditors to repay in installments, postpone repayment or reduce debts.

    2. If the other party does not agree to extend or reduce the debt, and wants to sue the debtor, then after the lawsuit, it is necessary to actively respond to the lawsuit and strive to achieve the purpose of repayment in installments or within a time limit in court!

    3. If the other party does not agree to extend or reduce the debt, the court will not support it and will repay all the debts within a time limit. If the creditor is able to repay but refuses to pay, the creditor may apply for enforcement. But enforcement does not go to jail because civil liability does not involve criminal issues.

    4. If the debtor really has no money to repay, even if the other party wins the lawsuit, the court enforcer knows that you cannot enforce without money. Only if you have the money and refuse to return it can the court arrest a person (including judicial detention or criminal liability for refusing to comply with an effective judgment).

    5. In accordance with legal procedures, the people's courts shall use the coercive power of the state to clarify and specify the specific enforcement content of the legally effective documents, and compel the civil obligor to complete the obligations it undertakes, so as to ensure that the rights of the right holder can be realized.

  2. Anonymous users2024-02-11

    The business has failed, the debts are heavy, and the New Year is approaching, what can people do if they want to pay the account, either hide for a while, or make a repayment plan for others, and it is definitely not a way to escape, and what you want to pay back must be repaid.

  3. Anonymous users2024-02-10

    Legal Analysis: Business failure, accept debts calmly, and do not evade. And take the initiative to find creditors, explain the current situation of their business failures, and strive for the understanding of creditors, so that repayment can be deferred.

    If you are a partnership, you should be jointly and severally liable for the debts owed. If a limited liability company is established, the amount of capital contribution shall be limited. Debts owed should therefore be discharged.

    If it is temporarily unable to repay, the debtor may repay in installments with the consent of the creditor or the ruling of the people's court. Where there is the ability to repay but refuses to repay, the people's court is to make a judgment to enforce it.

    Legal basis: Company Law of the People's Republic of China

    Article 3 The company is an enterprise legal person, has independent legal person property, and enjoys the property rights of legal person. The company is liable for the debts of the company with all its property. The shareholders of a limited liability company are liable to the company to the extent of their subscribed capital contributions; The shareholders of the shares are liable to the company to the extent of the shares they subscribe.

    Article 20 The shareholders of the company shall abide by the laws, administrative regulations and the articles of association of the company, exercise their rights as shareholders in accordance with the law, and shall not abuse their rights to harm the interests of the company or other shareholders; The independent status of the company's legal person and the limited liability of shareholders shall not be abused to harm the interests of the company's creditors. Where a shareholder of a company abuses his rights as a shareholder and causes losses to the company or other shareholders, he shall be liable for compensation in accordance with law. Where a shareholder of a company abuses the independent status of the company's legal person and the limited liability of shareholders to evade debts and seriously harm the interests of the company's creditors, they shall be jointly and severally liable for the company's debts.

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