Village-Level Credit and Debt Handling Policy

The methods to deal with village-level claims and debts include: 1. Financial clean-up and debt reduction; 2. Cut high interest rates and debt reduction; 3. Collect claims and repay debts; 4. Pair and offset debts; 5. Transfer debts. Reduce debt; 6. Revitalize assets to repay debt; 7. Develop collective economic debt; 8. Repay debt through agreement; 9. Implement debt reduction and exemption policies; 10. Save expenditure and reduce debt, etc.

Legal Basis

Article 668 of the Civil Code A loan contract shall be in writing, unless otherwise agreed upon for a loan between natural persons. The content of a loan contract generally includes terms such as loan type, currency, purpose, amount, interest rate, term and repayment method. Article 679 of the Civil Code: A loan contract between natural persons is established when the lender provides the loan.