Zhongwei financial dispute SMS

Legal analysis: after the debtor owes money, he needs to fulfill the repayment obligation according to the contract. If it is really unable to repay, you can negotiate repayment directly with creditors and try to reduce interest or repay in installments. The court that breaches the contract or refuses to repay the loan can enforce it and will also be included in the credit information system.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.

Article 668 A loan contract shall be in written form, unless otherwise agreed between natural persons.

The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.

Article 669 When concluding a loan contract, the borrower shall, at the request of the lender, provide the true information about the business activities and financial status related to the loan.