What should I do if I encounter the threat of collection?

In case of collection threat, actively negotiate and contact the creditors, explain the reasons for the failure to repay in time, show that the repayment will not be fulfilled, and ask the other party to understand and agree on the repayment time again.

Collection is not illegal, only violent collection is illegal. If it fails to pay back within the time limit or fails to pay back after two reminders, the parties concerned will be prosecuted. First of all, after repeated dunning, if the parties still do not repay, they will file a civil lawsuit with the court. After the people's court hears the case, if the parties still fail to repay the loan, they can transfer the case to the public security organ for investigation and formally establish it as a criminal case. After investigation, the public security organ will transfer the case to the procuratorate for public prosecution.

Take the initiative to contact the creditor, explain the reasons for the failure to repay in time, indicate the willingness to repay and the inability to perform, and ask the other party to understand and agree on the repayment time again.

If it can be settled peacefully, then stopping the creditor's collection behavior and giving a buffer time is naturally the best way to solve the problem.

If the other party refuses to communicate and wants to continue to use violent collection to force repayment, it is necessary to pay attention to collecting evidence and keep short messages, WeChat screenshots, telephone recordings, and videos.

legal ground

People's Republic of China (PRC) Civil Code

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. Article 670 Interest on a loan shall not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan will be repaid according to the actual loan amount and the interest will be calculated. Article 671 Where the lender fails to provide the loan on the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses.

If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.