Debt relief company

Legal analysis: debt relief refers to reducing the repayment amount of the debtor, and the debtor only needs to repay part of the loan. Debt relief is a practice that requires all creditors to accept partial repayment and give up their claim to all debts.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.

Article 668 A loan contract shall be in written form, unless otherwise agreed between natural persons.

The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.