How long do small loan companies give up debt collection?
According to the relevant laws and regulations on private lending, the debt collection period is two years. However, most small loan companies will not really pursue the debt for two years. In most cases, the collectors of small loan companies will give up the collection when the door-to-door collection is still fruitless. Few small lending institutions will actually sue the debtor, because the litigation time is long and it may not be possible to recover all the debts.
If the amount owed by the lender is relatively large, such as more than 50 thousand yuan, then the small loan company is likely to sue the lender in the case of long-term collection without results. If the prosecution is successful, the lender is likely to be enforced by the court. If the lender is unable to repay the loan, it is likely to be listed as an executor of dishonesty by the court in the end.
Once the lender becomes a untrustworthy person, bank cards, real estate, Alipay accounts, WeChat accounts, etc. The property in his name will be confiscated by the court. Pension accounts will also be deducted on time, and users will repay loans. In addition, if children or wives have real estate, it will also be used for auction, and the auction money will be used to repay the loan.
Many lenders will worry about the problem of small loan companies coming to collect money. In fact, the amount owed by the lender shall prevail. If the amount is large, the loan company will definitely carry out door-to-door collection. For example, Jie Credit, 5 1 Personal Loan, Qian Bao, Paipai Loan and other loan companies.
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