What if the defaulting financial company is sued?

Legal analysis: 1. After the debt is brought to court, the court may seal up the defendant's house in advance according to the plaintiff's application for preservation to prevent its transfer. If the court finds that the debt is established after trial, it will order the defendant to repay it within a certain period of time. If it is not returned within the time limit, the plaintiff may apply to the court for compulsory execution. 3. When the court enforces it, it may seal up, auction or sell the defendant's house according to law, and repay the arrears with the proceeds from the auction.

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

Article 84 There must be a receipt for the service of litigation documents, and the addressee shall record the date of receipt, sign or seal on the receipt. The date of receipt by the addressee on the service receipt shall be the date of service.

Article 125 The people's court shall send a copy of the indictment to the defendant within five days from the date of filing the case, and the defendant shall submit a reply within fifteen days from the date of receiving the indictment. The defense shall specify the defendant's name, gender, age, nationality, occupation, work unit, residence and contact information; The name and domicile of the legal person or other organization and the name, position and contact information of the legal representative or principal responsible person. The people's court shall send a copy of the defense to the plaintiff within five days from the date of receiving the defense.