What to do if you owe a huge debt and can t pay it

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.

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 instalments in accordance with the relevant provisions.

The other is permanent insolvency. In the case of permanent insolvency, the debtor's personal existing property can only be satisfied.

If you have a huge debt and are unable to pay it, the following is recommended:

One: Accept the debt, because there is no way, accept the psychological gap, but also accept your own failure, only in this way, can you alleviate the pain, anxiety is useless, confrontation is useless.

Two: life is the most important, family is the most important, family is the most important, three: don't think about getting rich overnight, pragmatic can land, landing can be practical.

Four: Find a job first, stabilize your life, survival is the first.

Five: Don't compare, don't expect to return soon, take your time according to your ability.

Six: For collection and prosecution, look at it with a normal mind.

Seven: Ordinary is true, and the huge debt beyond one's ability to bear shows that the risk is not fully estimated, and it will be the first to do things steadily in the future.

1. What to do if you owe a huge debt and cannot repay it.

1. The handling method of insolvency with huge debts is as follows:

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

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 needs 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 it is a business, it is necessary to file for bankruptcy and go into bankruptcy liquidation.

2. Legal basis: Article 236 of the Civil Procedure Law of the People's Republic of China.

Where the person subject to enforcement or the property subject to enforcement is in a foreign area, the local people's court may be entrusted to enforce the law on their behalf. After receiving the letter of entrustment, the entrusted people's court must begin enforcement within 15 days and must not refuse. After enforcement is completed, the people's court shall be entrusted with a timely reply to the outcome of the enforcement; If the enforcement is not completed within 30 days, the people's court shall also be notified of the execution in a letter.

Where the entrusted people's court does not enforce within 15 days of receiving the letter of entrustment, the entrusting people's court may request that the people's court at the level above the entrusted people's court order the entrusted people's court to enforce it.

2. What is the loan process?

1. The borrower submits a loan application;

2. The bank accepts and examines the customer's situation, and the bank verifies the customer's situation, and determines whether it has the conditions for establishing a credit relationship according to the bank's loan conditions;

3. Sign the loan contract, if the bank considers that the borrower meets the loan conditions after reviewing the loan application and agrees to the loan, it will sign the loan contract with the borrower;

4. Issuing loans, the bank will lend faster when the credit line is sufficient;

5. Post-loan inspection, the bank will investigate the whereabouts of the funds after the borrower obtains the loan, to see whether the borrower uses them according to the specified purpose, as well as the borrower's cash flow and operating income;

6. The loan is returned, and after the loan is repaid, the loan shall be settled.

Summary. Legal basis: Article 236 of the Civil Procedure Law of the People's Republic of China stipulates that the 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.

Hello to the year! We'll be happy to answer for you. If he owes a huge amount of debt and cannot repay it, he should be repaid.

If the debtor is temporarily unable to repay the arrears, the debtor may repay the arrears in installments with the consent of the creditor or the ruling of the people's court. However, if they have the ability to repay but refuse to do so, they will be sentenced to compulsory enforcement by the people's court. The debtor is obliged to repay the debt.

Legal basis: Article 236 of the Civil Procedure Law of the People's Republic of China stipulates that the 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 the executor to enforce the material beam.

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

Summary. <>

Hello dear! We'll be happy to answer for you. Depending on your description, you can do the following:

2.Seek help from a third party: You can seek the help of a professional consulting agency, lawyer or debt negotiation agency to coordinate the interests of the debtor and creditors and formulate a reasonable repayment plan.

5.Adjust asset allocation: If there are idle assets, they can be transferred or transferred in exchange for funds to repay debts.

6.Filing for bankruptcy: When you are no longer able to pay off your debts, you can file for personal bankruptcy to settle your debts through a court ruling.

If the debtor is really unable to repay the huge debt, he will not go to jail if he or she does not have the ability to repay the huge debt. <>

According to Article 108 of the General Principles of the Civil Law of the People's Republic of China, "debts shall be repaid. If it is temporarily unable to repay, the debtor may repay it in installments with the consent of the creditor and 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. In addition, according to Article 313 of the Criminal Law: "Where a judgment or ruling of a people's court is capable of being enforced but refuses to do so, and the circumstances are serious, a sentence of up to three years imprisonment or short-term detention shall be given."

When borrowing, it is best for individuals to comprehensively consider their ability to repay, and borrow or borrow within their ability to fundamentally avoid the situation of inability to repay. <>

What to do if you owe a huge debt and can't pay it

Hello dear! We'll be happy to answer for you. Depending on your description, you can do the following:

2.Seek help from a third party: You can seek the help of a professional consulting agency, lawyer or debt negotiation agency to coordinate the interests of the debtor and creditors and formulate a reasonable repayment plan.

5.Adjust asset allocation: If there are idle assets, they can be transferred or transferred in exchange for funds to repay Liang Crude Debt.

6.Filing for bankruptcy: When you are no longer able to pay off your debts, you can file for personal bankruptcy to settle your debts through a court ruling.

If the debtor is really unable to repay the huge debt, he will not go to jail if he or she does not have the ability to repay the huge debt. <>

According to Article 108 of the General Principles of the Civil Law of the People's Republic of China, "debts shall be repaid. If the debtor is temporarily unable to repay the loan, the debtor may repay it in installments with the consent of the creditor and the people's court ruling.

and where they have the ability to repay and refuse to repay, the people's court is to make a judgment to compel repayment. In addition, according to Article 313 of the Criminal Law: "Where a judgment or ruling of a people's court is capable of being enforced but refuses to do so, and the circumstances are serious, a sentence of up to three years imprisonment or short-term detention shall be given."

When borrowing, it is best for individuals to comprehensively consider their ability to repay, and borrow or borrow within their ability to fundamentally avoid the situation of inability to repay. <>

How much do you owe? <>

Do you owe it to an individual or a company? <>

If you owe a huge amount of debt and are unable to repay it, you can first communicate with the creditor to obtain the details of the other party, and you can appropriately extend or reduce the debt. If the debtor does not agree to the extension or reduction of the debt, the debtor may take a delay, and if the debtor goes to court to file a lawsuit, it can generally be delayed for six months to a year. There is really no money to repay, and even if the lawsuit is won, the court enforcer knows that the debtor has no money and cannot enforce it.

Legal analysisAs long as the debtor communicates well with the creditor and shows sincerity, the creditor will not go to the court to sue and avoid entering the list of dishonest persons. If the creditor still fails to repay the loan after filing a lawsuit with the court, it may have an impact on the debtor's credit and be included in the "blacklist". This will cause inconvenience to the debtor's future life such as loans, travel, etc.

However, if the debtor uses fictitious facts or methods to conceal the truth for the purpose of illegal possession to defraud a large amount of public or private property, it may constitute the crime of fraud and be investigated for criminal liability. Where persons subject to enforcement fail to perform the obligations set forth in effective legal documents, and have any of the following circumstances, the people's courts shall include them in the list of judgment defaulters, and give them credit punishments in accordance with law: those who have the ability to perform but refuse to perform the obligations set forth in the legal documents; obstructing or resisting enforcement by means such as fabricating evidence, violence, or threats; Evading enforcement by means such as sham litigation, sham arbitration, or concealment or transfer of property; violating the property reporting system; violating a spending restriction order; Potato accompaniment who refuses to perform the execution of the settlement agreement without justifiable reasons.

The creditor generally refers to the person who borrows money from others, and the debtor generally refers to the person who owes money to others, and the creditor has the right to claim the debtor's debt within a limited time.

Legal basisArticle 189 of the Civil Code of the People's Republic of China: Where the parties agree to perform the same debt in installments, the limitation period is calculated from the date on which the last period for performance expires.