What is the worst outcome of a debt fully overdue? What is the worst possible outcome if there is no source of income and the debt all explodes? Will it be caught? Will it be sentenced to jail? Will it be enforced by the courts? Will it affect my child's schooling, military enlistment, and employment? This is a question that many friends who are willing to repay but really unable to repay their debts often think about and worry about. Today, I will analyze this issue for you.
First, you need to understand the creditor's purpose. Whether it's a platform or a bank, their purpose is to recover what they owe. If they can recover the money they owe by phone, door-to-door, or sue, they won't waste time suing. Usually, suing is a last resort, what should you do if you have been unable to pay your debts and unfortunately received a court summons and were sued?
If you receive a summons from the court, be sure to appear in court, otherwise it will be considered as a default and the court will proceed directly to the default judgment. If you are in a different place, you can answer online, if you do not know how to operate, please send me a private message. At the same time as the enforcement notice is issued during the execution stage, you will be required to make a financial declaration. If you ignore or refuse to declare, it will be deemed that there is no willingness to repay and it will be enforced.
The most serious consequence is becoming a dishonest person. If you have the ability to repay and not pay back, you may become a dishonest person in the future. This is a completely different concept and result. You should plead and declare truthfully to express your integrity, which is the best way to respond to litigation. If your loan information is true and you do not resist execution, under normal circumstances, you will not be listed as a dishonest person, will not be arrested and will not affect the life of your children.
After sewing machines were prosecuted, children were unable to attend high-fee private schools. Many people say that overdue payments will affect their children's schooling, military participation and employment, which is nonsense.
However, there are often news or live broadcasts about Lao Lai's arrest. In fact, court visits to enforce debtors usually only because they have property or deposit clues and can afford to refuse repayment. If you are executed and refuse to cooperate, you will be taken away.
So even if you owe hundreds of thousands of dollars, you don't necessarily qualify as a dependent.
I am Brother Hu and face debts with you.
