There is no clear stipulation that the loan of credit cooperatives is invalid, but if the repayment period exceeds two years, the credit cooperatives can sue you for repayment, and the debtor _ guarantor can defend the limitation of action. The court will find out whether the limitation of action is interrupted or suspended according to law, and then make a judgment according to law. Moreover, if loans overdue is not or unwilling to update its credit information, it cannot apply for a loan.

Basic information

The loan of rural credit cooperatives refers to the behavior that natural persons or legal persons obtain funds from rural credit cooperatives in accordance with the prescribed conditions and procedures, and agree on the amount, term and interest rate, and repay the principal and interest of the loan at maturity.

The characteristics of credit cooperatives' loans The main business of credit cooperatives is rural credit, and its business processes and technical operations are basically the same as those of national specialized banks. Therefore, the systems and measures of national specialized banks on rural credit management are equally applicable and binding in credit cooperatives.

laws and regulations

The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail. However, the people's court shall not protect the rights that have been damaged for more than 20 years. Under special circumstances, the people's court may decide to extend the time according to the application of the obligee.