1. Negotiation with the lending institution: First, the borrower can take the initiative to contact the lending institution, explain the current financial difficulties, and ask for postponement of repayment, modification of repayment plan or partial debt relief. Lenders may consider the needs of borrowers and try to find a mutually acceptable solution.
2. Seek legal aid: If negotiation with the lending institution fails, the borrower can seek legal aid to understand the relevant legal provisions and rights. Legal aid can provide legal advice, litigation and other services to help borrowers formulate reasonable coping strategies.
3. Declare bankruptcy or restructuring: In extreme cases, the borrower may consider applying for bankruptcy or debt restructuring. This may lead to the allocation of debts by lending institutions through court procedures, so that borrowers can make appropriate repayments according to their financial situation.
Summary: In the face of the inability to repay the online business loan, the borrower should actively negotiate with the lending institution and try to find the same solution. If it cannot be solved, legal aid and filing for bankruptcy or reorganization are alternative options. It is important to keep communication with lending institutions in this process and seek professional advice to protect your rights and interests.
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Bankruptcy law and debt restructuring law are legal tools to solve the problem of inability to repay debts, and the specific provisions may vary from country to country and region. In China, the main legal basis is the Bankruptcy Law of People's Republic of China (PRC) and the Bankruptcy Law of People's Republic of China (PRC).