obligor

What is debtor

obligor , usually referring to the right of creditor A person obligated to repay. In terms of financial accounting, debtor refers to the entity or individual that owes money to others. In short, the debtor can also be understood as the buyer, while the corresponding creditor can be understood as the seller. The debtor may be a citizen or a legal person, and the state may also have the debtor's qualification when it appears as a civil subject.

The party who has the right to require the other party (the debtor) to act or not act for a certain act in the debt relationship. In the relationship of debt, the creditor is specific, and only the specific right subject has the right to require the obligation subject to perform the agreed obligations. If the person who is obligated to perform fails to perform his obligations, the creditor has the right to request the judicial authority to compel him to perform. If the creditor suffers economic losses due to the other party's failure to perform its obligations, it is entitled to claim compensation. Creditors also have the right of subrogation and cancellation. Subrogation refers to the right that the creditor, in its own name, exercises its rights as a third party on behalf of the debtor, and the debtor bears the consequences; Cancellation right refers to the creditor's obstruction to the debtor

What if the debtor runs away

In real life, the debtor often goes back for the purpose of malicious evasion Limitation of action The restriction of, will often give the creditor claims the right to collect debt to bring great difficulties. In the case of debt collection where the debtor's whereabouts are unknown, the creditor can take the following two ways Recovery of arrears 。

The first way is that the creditor can directly file a lawsuit with the people's court of the debtor's original residence or property location within the limitation period litigation , collect debts. At the time of prosecution, the borrower should hold the IOU to prove the existence of the loan relationship evidence The court will Filing a case Acceptance. Because the debtor's whereabouts are unknown, the court usually uses the form of public notice after filing the case Subpoena The debtor shall respond to the lawsuit. When the public announcement period expires and the debtor does not respond to the lawsuit, the court will make a default judgment on the case with clear relationship between the borrower and the debtor after hearing. After the default judgment, although the debtor's whereabouts are unknown, the court may, upon the creditor's application, auction the debtor's house or property to pay off for the creditor debt 。  

The second way is that the debtor applies to the court to declare the debtor as a missing person, and then the custodian pays the loan from the property of the missing person.

What to do if the debtor dies

Debtor dies Debt cannot be extinguished. To recover debts, the creditor should first see whether the debtor has left property, and then see whether there is Debt guarantor 。

After the death of an ordinary citizen, if he has property, his debts shall be borne by him heir Undertaking; Without property or abandoned by the heir inherit The successor shall not bear the debts of the decedent.

In addition, if the parties have not agreed or clearly agreed on the mode of suretyship liability, they shall bear the suretyship liability in accordance with joint and several suretyship liability.

Debtor transfers property

our country civil procedure law It stipulates that after the legal document as the basis for enforcement comes into force and before the application for enforcement, the creditor may apply for enforcement Jurisdiction The people's court of. The people's court may make a ruling with reference to the provisions of the Civil Procedure Law, and the order of preservation shall be executed immediately. The creditor may apply to the court with enforcement jurisdiction for pre enforcement Property preservation To safeguard the rights and interests of creditors.

For such property preservation, it is generally unnecessary for the applicant to provide a guarantee. At this time, the rights and obligations of both parties have been confirmed in the effective legal document Creditor's rights and debts The relationship is clear, and there is no loss caused to the respondent due to application errors.

However, after applying for property preservation, the creditor must apply to the court for enforcement in a timely manner, because after the court adopted the preservation measures, if the applicant did not apply for enforcement within the statutory application period for enforcement, the court will rule to terminate the preservation measures.

According to the relevant provisions of the Supreme People's Court, there are

The debtor maliciously transfers property

Where the debtor waives its creditor's right that is due or transfers its property without compensation, thereby harming the creditor, the creditor may request the people's court to rescind the debtor's act. If the debtor transfers the property at a low price that is obviously unreasonable, causing damage to the creditor, and the transferee is aware of the situation, the creditor may also request the people's court to rescind the debtor's act. The exercise scope of the cancellation right is limited to the creditor's rights. The necessary expenses for the obligee to exercise its cancellation right shall be borne by the obligor. " According to this provision, the constituent elements of the revocation right are:

1、 The debtor's conduct harmful to the creditor shall be the object of the cancellation right;

2、 The object of revocation must be a property act;

3、 Claims that must be detrimental to creditors;

4、 When disposing of the debtor's property in a paid way, the debtor and the beneficiary must

Difference between debtor and creditor

1、 Creditors

The party who has the right to require the other party (the debtor) to act or not act for a certain act in the debt relationship.

In the relationship of debt, the creditor is specific, and only the specific right subject has the right to require the obligation subject to perform the agreed obligations. If the person who is obligated to perform fails to perform his obligations, the creditor has the right to request the judicial authority to compel him to perform. If the creditor suffers economic losses due to the other party's failure to perform its obligations, it is entitled to claim compensation.

Creditors also have the right of subrogation and cancellation. Subrogation refers to the right that the creditor, in its own name, exercises its rights as a third party on behalf of the debtor, and the debtor bears the consequences; Cancellation right refers to the creditor's right to request cancellation of the debtor's legal act that hinders the realization of creditor's rights. Creditors can be citizens or legal persons, or countries.

2、 Creditor's rights:

(I) obligee's right of subrogation It is one of the rights protection systems of debt. Preservation debt

What if the debtor is unable to repay the debt

When the debtor is unable to repay the debt, it may be that the other party really does not have the ability to repay the debt, but at this time, the creditor will not be relieved of the debt because the other party does not have the ability to repay the debt. After all, the creditor's money is hard earned. In reality, what should we do when the debtor is unable to repay? Please learn about it through the following paragraphs.

1、 What if the debtor is unable to repay

If it is possible to negotiate, try to negotiate. If it is not possible to negotiate, file a lawsuit with the people's court in a timely manner within the limitation of action. If there is any property clue of the other party, you can provide the court with an application for preservation.

Debt dispute There are many solutions, such as negotiation, mediation, arbitration and litigation. However, in debt disputes, some creditors often delay the negotiation stage for too long in order not to hurt their harmony, thus missing many good opportunities to recover their arrears.

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How to determine the repayment period of the debtor

1、 How to determine the repayment period of the debtor

The debtor shall repay the loan at the agreed time. Where the term of the loan is not agreed or clearly agreed, and cannot be determined in accordance with the provisions of relevant laws, the debtor may repay the loan at any time; The lender may demand the debtor to return within a reasonable period.

The debtor shall return the principal to the borrower within the time limit agreed in the contract, which is one of the most important obligations of the debtor in the loan contract. If Parties to the contract If the time limit for returning the principal is clearly stipulated in the loan contract, it is no doubt that the debtor will return the loan according to the time limit stipulated in the contract; If the parties to the contract have not agreed on the repayment period in the loan contract or the agreement is unclear, the parties may supplement it by agreement in accordance with the provisions; If the parties are unable to reach a supplementary agreement on the repayment period, it may be determined in accordance with the relevant provisions of the contract and the transaction customs.

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