Shenzhen Pratt & Whitney Express Financial Services Co., Ltd. was incorporated in February 20 15 to provide financial services. Provide accurate credit evaluation services for institutions and individuals to help customers obtain funds provided by financial institutions for consumer credit.

According to Article 108 of the General Principles of Civil Law of People's Republic of China (PRC),

The debt should be paid off. If it cannot be repaid temporarily, it may be repaid by the debtor in installments with the consent of the creditor or the ruling of the people's court. Those who have the ability to repay and refuse to repay shall be forced to repay by the people's court.

According to Article 84 of the General Principles of Civil Law of People's Republic of China (PRC), debt is a specific right and obligation relationship between the parties according to the contract or the law. The obligee is the obligee, and the obligor is the debtor.

Creditors have the right to require debtors to perform their debts in accordance with the contract or according to law.

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Treatment of non-payment of arrears

There are many ways to settle arrears disputes, such as negotiation, mediation, arbitration and litigation. As long as they are used in time and properly, they will get twice the result with half the effort. However, because some creditors often drag on for too long in the negotiation stage in order not to destroy the peace, they miss many opportunities to recover debts.

Applying for a payment order is one of the effective ways to recover the arrears. According to the provisions of China's Civil Procedure Law, a creditor may apply to a grassroots people's court with jurisdiction for a payment order if it requests the debtor to pay money or securities that meet the following conditions:

1. There are no other debt disputes between creditors and debtors.

2. The payment order can be served on the debtor. If the debtor fails to pay off the debt within 15 days after receiving the payment order from the people's court, or fails to raise a written objection to the people's court, the creditor may apply to the people's court for enforcement.

It can be seen that the biggest advantage of applying to the people's court for a payment order to recover the arrears is that it takes short time and gets quick results. Of course, if the debtor raises a written objection to the people's court within the statutory time, it must be handled through litigation.

Refer to Baidu Encyclopedia-Credit Information

Refer to Baidu Encyclopedia-General Principles of Civil Law in People's Republic of China (PRC)