The detailed explanation is as follows:
1. According to Article 135 of the General Principles of Civil Law, the limitation of action for monetary debts is three years. In this case, Huaxia Xincai was 900 days overdue, exceeding the statute of limitations of three years.
2. The limitation of action is generally calculated from the time when the creditor obtains the creditor's right. Assuming that the loan term in the loan contract is two years, the creditor can exercise the right of appeal from the date when the loan expires, and the term is three years. After more than three years, creditors cannot recover their claims through legal channels.
3. Even if the creditor brings a lawsuit before the expiration of the limitation of action, the limitation of action will be suspended if there are interruptions such as reconciliation and mediation in the course of the lawsuit. However, there is no mention of any interruption of the limitation of action in this case, so it can be concluded that Huaxia New Materials has passed the prosecution period.
4. Summary: According to China's laws, Huaxia Credit has been overdue for 900 days, and creditors cannot recover it through legal channels.
Extended data:
Limitation of action refers to the time limit for creditors to exercise their litigation rights within a certain period of time. According to the laws of China, the statute of limitations for monetary debts is generally three years. For debts beyond the limitation of action, creditors lose the right to recover their claims through legal means. Under certain circumstances, the limitation of action may be interrupted or extended, such as the parties reach a settlement or mediation, and the debtor escapes. However, in this case, there is no mention of any interruption or extension of the statute of limitations.
In a word, according to the law of our country, Huaxia Credit is 900 days overdue, and the creditor can't recover it through legal channels. The limitation of action is to protect the debtor's rights and interests, avoid the creditor's long-term delay in paying the creditor's rights, and also provide some legal protection for the debtor. For creditors, it is necessary to exercise the right of appeal within the prescribed time limit to ensure the realization of their own rights and interests.