1, owe 1500 yuan can report to the police, but owing money is not a civil case, and the general police will mediate and will not file a case. If you owe money, you can negotiate with the other party first and agree to repay it in installments. If negotiation fails, it needs to be settled through litigation. The parties shall bring a lawsuit to the court. If the debtor's whereabouts are unknown according to law, but he has not been declared missing, and the creditor brings a lawsuit to pay off the debt, the people's court may make a judgment by default or consider the lawsuit suspended after being summoned by public announcement.

2. Legal basis: Article 678th of the Civil Code of People's Republic of China (PRC).

The borrower may apply to the lender for extension before the repayment period expires; If the lender agrees, it can be extended.

Article 674

The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.

Second, what should I do if I owe money?

The way to deal with arrears is as follows:

1. If you don't pay back the money you owe, you can negotiate with the debtor and ask him to pay back as soon as possible;

2. If negotiation fails, both parties can bring a lawsuit;

3. You can also apply to the people's court for arbitration.