Will Gitzo's lawsuit be enforced?

Gitzo's lawsuit can be enforced. If you have property under your name that can be executed, Gitzo will go through the trial procedure and enter the execution stage after suing the court. At this time, if you still refuse to repay, the court will freeze the vehicles, houses and bank cards under your name, and then enforce their property through court auction.

Consequences of non-repayment:

1. If it is really unable to repay, it shall negotiate with the lending institution to extend the repayment period or repay by installments.

2. If the lending institution fails to perform the judgment of the court within the performance period after suing the court and winning the case, it will apply to the court for enforcement.

3. When accepting enforcement, the court will inquire about the real estate, vehicles, securities and deposits in the name of the lender according to law.

4. If the lender refuses to perform the effective judgment of the court because there is no enforceable property under his name, negative information such as overdue repayment will be recorded in the personal credit report, which will restrict high consumption and entry and exit, and may even lead to judicial custody.

If you are sued, there will be the following two results:

1. Credit loan: a loan obtained through credit loan. If the applicant obtains a loan through a credit loan, the lending institution cannot reduce the loss by selling the collateral. However, the lending institution will always make dunning, which has a great impact on the life and work of the lender. In the end, the borrower can't escape the legal sanctions and needs to repay the loan with the assets in his own name.

2. Mortgage loan: under the mortgage loan method, the court will be advised to auction the collateral, and the proceeds from the auction will be used to repay the remaining principal and interest, attorney fees, legal fees and other expenses in priority. If there is any surplus, it will be returned to the borrower in full. This is an easy process, but it may not be easy to do. At least, it takes three months to realize assets. During this period, the borrower can raise money to win the battle for assets, and the lender can use this money to withdraw the lawsuit.

If the circumstances are serious, you will go to jail. Generally speaking, such incidents as non-repayment of loans are civil disputes and will not rise to the criminal level. However, if the borrower refuses to implement it, it will be considered as a deadbeat and would rather run away than pay back the money. If the circumstances are very bad, the court will also investigate the criminal responsibility of the borrower, and if it is too serious, it will go to jail.

The borrower's continuous default on the loan will not only affect his personal credit record, but also affect his application for other loans in the future. However, if some loans are not repaid on time, there will be penalty interest. Therefore, before applying for a loan, it is very important to ensure that you have enough repayment ability.

Legal basis:

General Principles of Civil Law of People's Republic of China (PRC)

Article 108

The debt should be paid off. If it is temporarily unable to repay, it may be repaid by the debtor in installments with the consent of the creditor or the ruling of the people's court. Those who have the ability to repay and refuse to repay shall be forced to repay by the people's court.