1. Legal basis: According to the provisions of China's contract law, the lender can reduce or exempt its obligations with the consent of the other party to the contract because it cannot fulfill the repayment obligations agreed in the contract. Lenders may apply to creditors for interest relief in accordance with this law.
2. Economic situation: The inability of lenders to repay debts is usually caused by economic difficulties and other factors, such as unemployment and illness. In this case, the lender can submit relevant financial difficulties to prove that he is unable to repay the debt.
3. Negotiation and compromise: Applying for interest relief usually requires negotiation and compromise between lenders and creditors. Lenders can put forward reasonable relief schemes, such as reducing interest or extending repayment period to ease economic pressure. Creditors may consider whether to accept the lender's request according to the specific circumstances.
In short, lenders can apply for interest relief when they are unable to repay their debts. In the application process, the lender can provide proof of economic difficulties according to relevant laws and regulations, negotiate and compromise with creditors, seek solutions, and ease economic pressure.
Extended data:
The specific operation and application conditions of the lender who is unable to repay the debt can apply for interest reduction and exemption, which can be different according to the region and specific circumstances. It is suggested that the lender consult relevant institutions or legal service institutions when applying for interest reduction and exemption, so as to understand the local laws and procedures and ensure the validity of the application. At the same time, lenders can also seek professional financial advice and seek more comprehensive solutions.