Is it legal for Hunan Wanbang Xiangfa to pay its debts?

Hunan Wanbang Xiangfa's debt settlement is illegal. According to Tian Yan's inquiry, Hunan Wanbang Xiangfa's debt settlement is not standardized, because the law does not allow the existence of debt settlement companies, and its industrial and commercial registration scope does not include the relevant contents of debt settlement projects, so it is forbidden to register debt settlement companies. Debt settlement, commonly known as debt settlement, is to solve the debt between creditors and debtors and dissolve the creditor-debtor relationship between creditors and debtors. Debt settlement is not a simple transaction, which requires consultation, planning, evaluation and settlement. The process of debt settlement is also the process of disposal of non-performing assets. The formal disposal methods of non-performing assets include litigation recovery, asset reorganization, debt-to-equity swap, diversified sale, asset replacement, leasing, bankruptcy liquidation and so on. The disposal of non-performing assets is a financial activity, so it needs to be licensed. Debt relief Only non-performing asset disposal institutions with non-performing asset disposal licenses are qualified to engage in debt relief business. Others are general market behaviors and are not regulated, so they are all suspected of engaging in illegal financial activities.