1. Apply to the court for debt relief or deferred repayment: If it is really unable to repay, you can apply to the court for debt relief or deferred repayment. The court will consider the rationality of reducing or delaying repayment according to the specific circumstances and make corresponding judgments;
2. Settlement through settlement agreement: A settlement agreement can be reached through consultation with creditors, and the repayment method and time limit can be agreed to reduce the pressure of debt collection;
3. Bankruptcy application: If it is really unable to repay, you can consider applying for personal bankruptcy, paying off debts through court bankruptcy procedures and starting over;
4. Debt restructuring: through debt restructuring, multiple debts can be integrated into one debt for better management and repayment;
5. Borrowing from relatives and friends: You can borrow from relatives and friends to solve the immediate financial pressure, but you need to pay attention to abide by relevant laws and regulations to avoid unnecessary legal risks.
The conditions for personal bankruptcy include the following aspects:
1. The debtor has been unable to repay its debts, or is expected to be unable to pay off its debts due in the next 3 months;
2, the debtor's property has been unable to pay off all debts;
3. The debtor did not maliciously evade the debt;
4. The debtor has been unable to settle the debt dispute through mediation or arbitration, or mediation or arbitration is not applicable or enforceable.
To sum up, it is suggested to carefully consider your repayment ability before borrowing, so as to avoid excessive borrowing and unbearable debt risk.
Legal basis:
Article 254 of the Civil Procedure Law of People's Republic of China (PRC)
After the property is sealed up or detained, the executor shall order the person subjected to execution to perform the obligations specified in the legal documents within a specified time limit. If the person subjected to execution fails to perform within the time limit, the people's court shall auction the sealed-up or distrained property; If it is not suitable for auction or both parties agree not to auction, the people's court may entrust the relevant units to auction or auction on their own. Articles prohibited by the state from trading freely shall be handed over to the relevant units for purchase at the price stipulated by the state.
Article 249
If the person subjected to execution fails to perform the obligations specified in the legal documents according to the notice of execution, the people's court has the right to inquire about the deposits, bonds, stocks, fund shares and other property of the person subjected to execution from the relevant units. The people's court has the right to seal up, freeze, transfer or change the property of the person subjected to execution according to different circumstances. The property inquired, sealed up, frozen, transferred or changed in price by the people's court shall not exceed the scope of obligations that the person subjected to execution shall perform.