From a debt of 680,000 to successfully getting back on track, it took me a full two years.
It wasn't until I understood three truths that I truly began to help myself.
Firstly, debt collectors are actually paper tigers; 99% of their threats are just scare tactics. Things like home visits, lawsuits, and affecting your children's education are mostly empty talk.
Secondly, what the platform fears most is not that you won't pay, but that you will file a complaint. Do you think they are that powerful? In fact, they are more afraid of regulation than you are.
Thirdly, after going overdue, you actually have the initiative; the key is knowing how to use it.
Now I am back on track. Looking back at this experience, my biggest realization is: there is no hurdle that can't be overcome, it's just that you haven't found the right method yet.
I know you're panicking right now, and I know you might be going through the same pain I went through. Because I've been through the rain, I want to hold an umbrella for you.
If the above content still doesn't satisfy your thirst for knowledge, don't panic. I will summarize the standardized answer to getting out of debt in three parts. If you have 0-1 million in debt, you must read the following content carefully, as it will determine whether you can avoid detours.
Part 1: Don't panic when debt collectors come; here are three tips to make them dare not harass you again.
Part Two: The Right Way to Negotiate Repayment and Get the Platform to Offer You a Reduction or Waiver Plan
Part Three: Specific Pathways to Getting Out of Debt for Three Types of Debtors – See Which One You Belong To
Part 1: Don't panic when debt collectors come; here are three tips to make them dare not harass you again.
First tip: Understand the tactics of debt collectors, and you won't be afraid anymore.
To be honest, when I first started to default on my payments, what I feared most was receiving a collection call. It felt like being a drowning person—knowing you need to swim, but unable to muster the strength. Every time my phone rang, my heart would pound, my palms would sweat, and sometimes I'd rather turn it off than face the call.
But do you know what? After I truly understood the tactics of debt collection, I realized my previous fears were completely unnecessary. Debt collection actually falls into two categories: internal and external. Internal collection is the platform's own collection department; these people are relatively civilized, after all, they are regular employees bound by rules and regulations. But external collection is different. This involves the platform packaging and selling debts to third-party collection companies. These people, for the sake of commissions, will say and do anything.
I'll never forget the first time I received a debt collector's call. The caller immediately launched into a tirade: "If you don't pay back the money, we'll be at your door tomorrow! We'll make sure everyone in the neighborhood knows you owe money!" I was so scared my legs went weak, and I quickly scraped together 5,000 yuan to pay it back. Looking back now, I was so foolish.
Remember this: No one, except the courts, has the right to force you to repay your debts.
This is a truth I only understood after two whole years. The most common threats used by debt collectors are nothing more than these: home visits, expedited processing, and detention. But let me tell you, 99% of them are just bluffing. Why? Because home visits are too costly. For a debt of tens of thousands of yuan, is it worthwhile for a debt collector to send someone to make the trip, considering the transportation and labor costs? As for expedited processing, there are strict procedures involved; it's not something they can just do on a whim. Detention is even more absurd. Debt is a civil dispute, not a criminal case. Who has the right to detain you?
I've seen too many people, unaware of these things, become completely disoriented and terrified by bribery, some even developing depression as a result. A friend of mine owed 80,000 yuan in internet fees. Bribery called him every day saying he was coming to his door, so he quit his job and fled to another city. And what happened? Six months passed, and he never saw Bribery again. Instead, because he ran away, he lost his stable income, making his debt problem even harder to solve.
In reality, debt collection is a gamble—gambling that you don't understand the law, that you're afraid, and that you'll repay out of fear. They make hundreds of calls a day; how could they possibly have time to actually visit each and every one of them? I later researched this specifically, and a debt collector's KPI assessment mainly focuses on the repayment rate, not how many calls they made or how many visits they made. Therefore, their strategy is to cast a wide net, scaring whoever they can.
The second tip: Prevent your contacts from being bombarded with messages. This is experience I learned through hard-won lessons.
If Cui Shou's phone calls only annoyed you, then exposing your contacts is the real killer. I know that feeling all too well. When your parents, friends, and colleagues all receive calls from Cui Shou, the shame and embarrassment are more painful than the debt itself.
During my worst period, Cui Shou called my mother's workplace. My mother is a primary school teacher who has worked at the school for over 20 years and has always been considered a good person by her colleagues. That day, the phone rang in the school office, and Cui Shou said on the phone, "Your son owes money and hasn't paid it back. Is your family all so untrustworthy?" My mother burst into tears on the spot and didn't speak to me for a week after she got home.
During that time, I really considered ending it all. But later I realized that accessing someone's entire contact list is preventable. How? I've summarized a few key points:
First, warn your family and friends before you default. Don't tell them you owe money; just say that a scam group has recently stolen your information and you might receive harassing calls, and tell them not to believe them. This way, even if you are later exposed, at least you'll be mentally prepared and won't be as shocked.
Second, record the call when you receive a call from Cui. Most phones nowadays have recording functions, so the first thing you say after connecting is, "This call has been recorded. Please watch your words." And you know what? This trick really works. I've tried it many times, and as soon as I say that, the other person's tone immediately softens. Why? Because they're afraid you'll use the recording to file a complaint!
Third, if your contacts have already been compromised, immediately gather evidence. What counts as evidence? Recordings, text message screenshots, call logs—all of these count. Then file a complaint with 12321, the Ministry of Industry and Information Technology's reporting platform specifically for managing harassing calls. I once complained about a particularly egregious debt collector who threatened to post my debt information in our neighborhood's residents' group chat. After I posted a screenshot and filed the complaint, the number was blocked within three days.
Here's another detail many people don't know: many apps now ask for access to your contacts during registration, and you absolutely must refuse! I initially granted all permissions for convenience, and as a result, the platform had access to my entire contact list. Later, I turned off contact access for all apps and got a new SIM card solely for receiving verification codes; this at least protects some of my privacy.
The third tip: Learn how to file effective complaints so that debt collectors will stop harassing you.
This was my trump card, and the key to truly getting rid of harassing debt collectors. Many people don't know that what debt collectors fear most isn't that you don't repay, but that you file a complaint. Why? Because regulations are very strict now; once illegal debt collection is verified, both the platform and the debt collection company will be punished.
I complained to seven platforms back then, and six of them immediately stopped the harassment. How can you make a complaint effective? Let me share my experience:
First, find the right complaint channel. The most effective is the China Banking and Insurance Regulatory Commission (CBIRC), which can usually stop collection efforts within 3-5 days. How to file a complaint? Call 12378 directly, or submit a complaint on the CBIRC's official website. Remember, your complaint must be well-founded and supported by evidence. Don't just say "they harassed me." Be specific: when they made the calls, how many times they called, what threatening words they said, and whether they harassed any third parties.
I remember one time, a customer service representative from a certain loan platform called me 27 times in one day, from 7 a.m. to 11 p.m. I recorded all the calls and transcribed them into a written statement, highlighting three main points: first, the frequency of the harassment was too high, affecting my normal life; second, the harassment occurred outside of working hours; and third, there were verbal threats, such as saying they would come to my home to see my family. After I submitted the complaint, the customer service representative didn't call again the next day, and a week later, the platform proactively contacted me to discuss a repayment plan.
Secondly, a multi-pronged approach to complaints is necessary. Besides the China Banking and Insurance Regulatory Commission (CBIRC), you can also file complaints with 12321 (for harassment calls), 12315 (for consumer rights), and your local financial office. A multi-pronged approach yields better results. A friend of mine was constantly harassed by a loan platform's collection tactics; he complained to four different departments simultaneously, and as a result, the platform not only stopped collecting payments but also proactively reduced his interest rate by 30%.
Finally, it's crucial to preserve all evidence. This is extremely important! Recordings, screenshots, and call logs should all be categorized and saved properly. I created a specific folder, categorized by platform name, and then sorted by date within each platform. This way, if I need to file a complaint or seek redress, the evidence can be readily accessed.
But I want to remind you that this complaint isn't about shirking our debts, but about securing a reasonable repayment environment. We do owe money, that's a fact, but that doesn't mean Cui Shou can do whatever he wants. Through this complaint, we're asking for dignity, and an opportunity to resolve the issue calmly and rationally.
Writing this reminds me of myself two years ago, living in Cui Shou's shadow every day, my heart pounding at the sound of my phone ringing. For a while, I even silenced my phone, missing out on several job opportunities. Looking back now, if I had known these methods back then, I probably wouldn't have taken so many detours.
But did you know that simply dealing with collection efforts isn't enough? That's just stopping the bleeding. The real key is negotiating a repayment plan that you can afford with the platform. Many people fail in negotiations not because the platform is unwilling, but because their approach is wrong. Think about it, what are platforms most afraid of? Bad debts! They'd rather collect less than not recover a single penny.
So in the next section, I'll share the correct approach to negotiating repayments. Why can some people successfully negotiate a 30% discount on their principal, while you can't even get through on the phone? Why can some people apply for 60-month installments for the same overdue payment, while you can only repay according to the original plan? The intricacies involved are far more complex than you imagine. I will tell you all the negotiation techniques I've developed over the years, including the best timing, script templates, and even how to use complaints as leverage. Remember, negotiation is not about begging, but about finding a mutually acceptable balance.
Part Two: The Right Way to Negotiate Repayment and Get the Platform to Offer You a Reduction or Waiver Plan
Continuing from the previous section, once you have clarified your debt situation and are mentally prepared, the most important next step is negotiation.
I know many people get a headache just hearing the word "negotiation," thinking, "How could the platform possibly agree to a reduction?" Cui Shou calls every day, all threatening and menacing, making it seem like there's no room for negotiation.
Wrong, terribly wrong!
This is the detour I took back then. When I first became overdue, I thought the same thing: it's only right to pay back debts, so why should they give me a reduction? As a result, I was scared by debt collectors and had to hide everywhere, and in the end, the interest kept snowballing from 200,000 to 600,000.
Later I realized that negotiating repayment is actually a skill, and there are too many intricacies involved.
Why do your negotiations always fail? Because you don't understand the platform's bottom line.
Let me ask you a question first: What do you think platforms are most afraid of?
Are you afraid you won't pay back the money? No. What platforms fear most is bad debts, the kind of money that can never be recovered.
Let me do the math for you and you'll understand. Suppose you owe 100,000, and with interest and penalties, it's already ballooned to 150,000. If you completely default, the platform won't recover a single penny, and the debt becomes a bad debt. But if you're willing to repay 80,000 of the principal, although the platform earns 70,000 less, at least the principal is recovered, and there's no need to set aside bad debt reserves.
Do you understand? The platform would rather earn less than have its accounts become bad debts.
This is why the longer the overdue period, the easier it is to successfully negotiate. I've seen too many people rush to negotiate after only a few days of being overdue, only to be met with rejection. Why? Because at this point, the platform still clings to the illusion that you might just be temporarily short of funds and can be repaid with a little encouragement.
But when you're 3, 6 months, or even longer overdue, the platform panics. They'll think: Is this person really unable to pay? Rather than ending up with nothing, they'd rather discuss a solution now, at least recovering some of the money.
Another mistake many people make is contacting the wrong person.
Do you often receive calls from debt collectors, and then you tell them, "I really don't have the money, can you pay me less?"
Let me tell you, it's completely pointless. Cui Shou is just a third-party company; their job is simply to collect payments, they have no authority to reduce or waive debts. Trying to negotiate a reduction with them is like trying to get a raise from a security guard—you've got the wrong person.
What's the correct approach? Contact the platform's customer service or negotiation department directly. How? It's simple: call the platform's official customer service number and say, "I want to apply for negotiated repayment." If the customer service representative says they don't offer this service, say, "I know you have a negotiation department; please transfer me."
Remember this: the platform would rather recover the principal than have the debt become bad debt. This is the basis for all negotiations.
The right timing and the right words for negotiation—this is what I've summarized after countless trials.
Regarding the timing of negotiations, my experience is that the golden period is 3-6 months overdue.
Why this particular timeframe? Because for the first three months, the platform is still observing, assuming your difficulties are only temporary. But after three months, especially by the sixth month, the platform starts to get anxious. Based on their experience, the probability of recovering debts overdue for more than six months is very low.
I remember it very clearly. I had a loan from a certain online lending platform, and when it was five months overdue, I suddenly received a call from someone claiming to be a negotiation specialist from that platform. They proactively asked if I could negotiate a repayment plan. I was stunned. I didn't realize that platforms would proactively contact me to negotiate?
Later I learned that this was their standard operating procedure. When an account was about to become a bad debt, they would take the initiative to try and recover as much as possible.
So what should you say during negotiations? I've summarized three key points: say your income is low, say your burden is heavy, and be sincere.
What do you mean? Let me give you an example.
This is what I said: "My monthly income is only 3,000 yuan. I have elderly parents to support and young children to raise. The elderly need 1,500 yuan a month for medical care, and the children need money for school. I really don't have the means. It's not that I don't want to pay it back, it's just that I'm facing genuine difficulties. Could you give me a solution that I can afford? For example, paying back 500 yuan a month?"
See, what does this passage contain?
First, I explained my income situation, and I stated that it was very low. Why did I say it was low? Because if you say you earn over ten thousand a month, why would they give you a discount?
Secondly, I emphasized the burden on families. Medical care for the elderly and schooling for children are essential expenses, which everyone can understand.
Third, I expressed my willingness to repay. This is very important; you need to let the platform know that you are not a defaulter, but are just experiencing temporary difficulties.
Fourth, I proactively proposed a repayment plan. 500 per month may not seem like much, but it's better than not receiving a penny, right?
Here's a tip: make sure your proposed repayment amount is reasonable. Too high and you won't be able to pay it; too low and the platform won't approve. In my experience, it's easier to get approved if your monthly repayment amount is between 15% and 20% of your monthly income.
Another important point is to prepare relevant supporting documents, such as proof of income and proof of hardship. Although not every platform requires them, it's better to be prepared. I prepared a hardship certificate issued by the village committee, which I didn't end up using, but it gave me peace of mind.
If negotiations fail, use complaints as leverage to pressure the platform.
To be honest, not every negotiation is successful. During my first attempt, I called several platforms in a row, and was rejected by all of them. I felt truly hopeless at the time, thinking my life was over.
But then I discovered a secret weapon—complaints.
You might ask, is complaining even useful? Wouldn't the platform be afraid?
I'm telling you, it really works! But the prerequisite is that you complain to the right place and use the right method.
First, let's discuss what to complain about. The most effective complaint point is "illegal collection practices." For example:
Cui Shou harasses your family and friends by bombarding your contact list.
Cui received verbal insults, threats, and intimidation.
Cui made frequent phone calls, more than a dozen a day.
Cui Shou impersonated a lawyer and court staff member
These are all clear violations and can be reported.
Furthermore, regarding where to file a complaint, many people only know to call 12378 (China Banking and Insurance Regulatory Commission), but there are actually many other channels:
12321 (Reporting Inappropriate and Spam Online)
12315 (Consumer Complaints)
Black Cat Complaints and other third-party platforms
Financial Office where the platform is located
My experience is that a multi-pronged approach is most effective. Here's what I did: First, I posted on Black Cat Complaints, detailing the harassment I received from Cui, along with screenshots of the recordings. Then, I called 12321 to report the spam messages and harassing calls. Finally, I wrote a letter to the local financial office where the platform was located to file a complaint.
And guess what? Less than a week later, the platform called us and said they could renegotiate the repayment plan.
This is the "courtesy first, force later" strategy. You try to negotiate properly first, and if that fails, you use complaints as leverage. Platforms are most afraid of regulatory authorities; being summoned or punished can result in significant losses. Therefore, they would rather offer you a reduction or exemption than risk trouble.
A friend of mine owed 80,000 yuan to a loan platform, and the interest and penalties had already reached 120,000 yuan. During the first negotiation, the platform said they could only waive a maximum of 20,000 yuan. After he filed a complaint using the method I suggested, he ultimately only repaid 70% of the principal, which is 56,000 yuan, saving 64,000 yuan!
This leads to another very important point: negotiation is not only a technical skill, but also a psychological battle.
You need to understand that platforms are also in business; they have to weigh the pros and cons. If they pressure you too much, and you give up and refuse to pay back a single penny, they will suffer even greater losses. If they give you a reasonable solution, you can at least get some of it back.
So what is the essence of negotiation? It's finding a balance that both parties can accept. You need to make the platform feel that giving you a discount is their best option.
Finally, I want to say that negotiating repayment is not about begging, but about finding a solution for both parties. Don't feel inferior, and don't feel guilty. Stay rational and principled throughout this process, and you will surely find a way out.
Having read this far, you should now have a basic understanding of debt management. You know that you need to clarify your debts first, adjust your mindset, and learn negotiation skills and methods.
But I know that everyone's situation is different. Some people may have just lost their jobs and have unstable incomes; some people may have jobs but face too much pressure from mortgage payments; and some people own houses and cars and are most afraid of being subject to enforcement proceedings.
Therefore, in the next section, I will provide more specific and targeted solutions for debtors of different types. I will explain in detail the three most common types of debt and the most suitable handling strategies for each type.
Remember, there's more than one way to get out of debt; the key is to find the one that suits you best. No matter what difficulties you're in right now, don't give up hope. Because I believe that with the right approach, even the biggest debt can be overcome. Darkness will eventually pass, and dawn is just ahead.
Part Three: Specific Pathways to Getting Out of Debt for Three Types of Debtors – See Which One You Belong To
I've found that the biggest problem for many people in debt isn't a lack of methods, but rather using the wrong methods. It's like taking medicine: cold medicine won't cure stomach problems; you need the right medicine for the right ailment to get a cure.
After several years of exploration and helping thousands of people in debt, I've roughly divided debtors into three types. Each type has the most suitable path to getting out of debt, and today I'll share all my best-kept secrets with you.
The first type: For those with unstable income – the "only repay the principal" strategy.
If your business fails or you suddenly lose your job, your income will fluctuate wildly, like a rollercoaster. You might earn thousands today, but nothing tomorrow.
I understand that feeling all too well. When my business failed at the end of 2022, the money in my account was dwindling day by day, but the debt was snowballing. At my worst, I didn't even know where I would get the next month's rent.
In this situation, what you need to do most is not to find a way to pay back the money, but to stop the bleeding first.
Why choose "repay only the principal"?
Let me do the math for you. Suppose you owe 100,000 yuan to a certain online lending platform, with an annualized interest rate of 18%. If you continue to use loans to pay off other loans:
Year 1: Principal 100,000 + Interest 18,000 = 118,000
Year 2: Principal 118,000 + Interest 21,200 = 139,200
Year 3: Principal 139,200 + Interest 25,000 = 164,200
See? In three years, your debt grew from 100,000 to over 160,000. But if you choose to only repay the principal, 100,000 will remain 100,000 and will not increase further.
So how exactly does it work?
Step 1: Immediately stop using loans to repay other loans.
I know this is difficult. At the time, Cui kept calling, and I even considered borrowing more money to tide me over. But please believe me, I've been down this path before, and it will only drag you down even deeper.
Remember this: It's better to be late than to borrow again. Being late might just mean you've already paid off your debts, but if you keep borrowing, you might never be able to pay it back in your lifetime.
Step 2: Proactively contact the platform to explain the situation.
Many people are afraid to make this call, fearing they'll be yelled at or threatened. But you're overthinking it. What the platform fears most is you disappearing, not you contacting them first.
Sales script template (personally tested and effective):
"Hello, I am XXX, ID number XXX. I am currently facing difficulties; my business has failed/I have lost my job, and I am temporarily unable to repay the loan. However, I am not intentionally defaulting; I am willing to repay the principal, but it will take some time."
Step 3: Collect supporting documents
Unemployment certificate (obtained from the community center)
Proof of business loss (proof of business license cancellation)
Bank statements (proving that you indeed have no money)
Proof of financial hardship (issued by the village committee or subdistrict office)
Not every document is necessary, but having them is better than having none. I used these documents to successfully negotiate with five platforms to only receive my principal back.
Important reminder: Debt repayment can be negotiated. Many people are unaware of this and end up paying tens or even hundreds of thousands more in interest.
Step 4: Wait for the right opportunity and resolve the issue in batches.
Negotiating a repayment of only the principal is not always successful immediately. Platforms typically only become willing to negotiate after you have been overdue for 3-6 months. During this period, what you need to do is:
Keep your phone accessible and answer at least once a month.
Stick to your bottom line: only repay the principal.
If you have money, pay back to the platform that is willing to negotiate first.
Using this method, I reduced my initial debt of 600,000 yuan to only 400,000 yuan of principal, saving 200,000 yuan in interest and penalties.
The second type: those with stable income – "secondary installment" strategy
Is this your situation?
I have a stable job and a fixed monthly income, but the mortgage payment is too much of a burden. For example, my monthly income is 8,000, but my monthly mortgage payment is 15,000. Every month I'm robbing Peter to pay Paul.
I've seen this situation far too many times. People clearly have the ability to repay, but because of unreasonable monthly payment settings, they've driven themselves into a desperate situation.
Why is the second phase the optimal solution?
Let's say you owe 120,000 yuan on a bank's credit card. Originally, you would have to pay 10,000 yuan per month for 12 installments. But if you negotiate a 60-installment plan, you would only need to pay 2,000 yuan per month. Although the total interest will be higher, at least you can live a normal life without having to borrow new money to pay off old debts.
Remember: Survival is more important than saving face, and being able to pay off your debts is more important than the amount of interest.
The Golden Rule of Second Installment
Rule 1: Calculate your true repayment ability
Formula: Monthly repayment ability = Monthly income - Necessary living expenses - Emergency reserve
For example:
Monthly income: 8000 yuan
Rent: 1500 yuan
Meals: 1500 yuan
Transportation: 500 yuan
Other necessities: 500 yuan
Emergency preparation: 1000 yuan
Actual refundable amount: 3000 yuan
Many people make the mistake of using all 8,000 to pay off debts, only to find themselves unable to make ends meet and having to borrow money again.
Rule Two: Leave room for flexibility in the number of installments.
If you calculate that you can repay 3,000 per month, then during negotiations, say you can only repay 2,000-2,500. Why? Because life is unpredictable, and you need to have a backup plan.
A friend of mine was too optimistic. He negotiated an installment plan based on his maximum financial capacity, but then an elderly family member fell ill, and he suddenly had to stop making payments. After a second default, the platform basically won't give him another chance.
Rule Three: Prioritize Negotiating Large Debts
Negotiation has costs; it requires time and effort. Therefore, larger sums should be prioritized.
Priority will be given to those with a value of over 100,000.
The next option is 50,000 to 100,000.
The last one under 50,000
Why? Because once you successfully negotiate a large debt, your financial burden will be significantly reduced. I first secured a 150,000 yuan loan from a certain bank, and my monthly payment dropped from 15,000 yuan to 2,500 yuan, which immediately put my mind at ease.
Specific steps for negotiating a second installment plan
Step 1: Contact us proactively before the due date.
This is very important! If you anticipate that you won't be able to repay next month, contact the bank a week in advance. Script:
"Hello, I am cardholder XXX. Due to XXX reasons (please specify the difficulties), I may not be able to pay the full amount on next month's bill. I would like to apply for a personalized installment plan. I have a stable income and can pay XXX yuan per month."
Step Two: Prepare Negotiation Materials
Proof of income (pay slips, proof of employment)
Proof of hardship (medical receipts, unemployment certificate, etc.)
Repayment plan (write it yourself, expressing your willingness to repay the loan)
Step 3: Persist in multiple communications
It's normal to be rejected 90% of the time on your first application. Banks also need to test your sincerity and bottom line. I made no less than 20 phone calls before I finally got an agreement.
Tip: After each rejection, try calling again after 3-5 days, and try a different customer service representative. Remember, customer service representatives are human too, and there will always be one willing to help you.
Key point: Debt negotiation is not about begging; it's a game of strategy between two parties. You have the willingness to repay, and they have the pressure to collect.
A balance point can be found.
Step 4: Sign the agreement and strictly implement it.
After a successful negotiation, be sure to request a written agreement or record the conversation. Then, strictly adhere to the repayment schedule as agreed, and never default on the payment.
I've seen too many people finally reach an agreement, only to miss the deadline due to negligence. Remember, second chances are rare, so cherish them.
The third type: Asset preservation type – “priority handling” strategy
Is this your situation?
Those who own a house, a car, or other assets are most afraid of being sued, having their assets seized, or becoming defaulters. They worry about court summonses and asset seizures every day.
I completely understand that fear. I used to own a small apartment, and although I was still paying off the mortgage, it represented my whole family's hopes. Every time I received a call from Cui Shou saying he needed to expedite my life, I would suffer from insomnia until dawn.
Let me start by telling you a fact that will put your mind at ease.
Only if you refuse to comply with a court judgment can you become a dishonest person subject to enforcement (a defaulter).
What's the meaning?
Platform access ≠ You are a defaulter
A court order for you to repay a debt does not mean you are a deadbeat.
Having no money to repay after a judgment does not mean you are a deadbeat.
If you have the money but intentionally refuse to pay after a judgment, you may become a defaulter.
So, let's calm down first. What we need to do is avoid taking the final step.
The core logic of priority handling
First priority: Large debts that may be accumulating.
Which ones are easy to accelerate from a standstill?
Bank credit card (over 50,000 RMB)
Some tough consumer finance companies
For online gambling platforms with exceptionally large sums of money (over 100,000 RMB)
Which ones are less likely to accelerate?
Small loan D (10,000-20,000)
Recently overdue (within 3 months)
You take the initiative to maintain contact
My experience is to focus your efforts on the first category first. At the time, I owed a bank 120,000 yuan, and received a lawyer's letter four months into the payment. I immediately contacted them and we negotiated a 36-month installment plan, thus avoiding a speeding payment.
Second priority: Debts that affect daily life
for example:
Car loan (car towed away affecting work)
Mortgage (the house is the family's livelihood)
Debts that may affect work
These debts may not be the largest in amount, but their impact is the most direct. A friend of mine had his car towed away because of overdue car loan payments, which made it difficult for him to conduct business, and his income was halved.
Third priority: Other debts
The remaining small online loans, such as Alipay's D and other similar services, can be put off for later. It's not that we won't repay them, but rather that we need to prioritize them.
Remember: Debts can be repaid through negotiation; don't rush into seeking treatment out of fear.
Specific procedures for asset preservation
Step 1: Plan your assets in advance
Note that I am not talking about malicious asset transfer, but rather legitimate planning:
Separate your salary card and loan repayment card
Living expenses funds are kept in the names of family members.
If the vehicle is not essential, consider selling it to pay off debts.
Strategy Two: Take the initiative and turn the tables.
Upon receiving a lawyer's letter or expedited notification, contact us proactively within 24 hours. Script:
"I received your lawyer's letter. I did not default on the loan intentionally; I am genuinely facing difficulties. I own property/have a job and have the ability to repay. I hope we can negotiate a mutually acceptable solution."
Benefits of taking the initiative to contact others:
Indicate your willingness to repay.
Seek opportunities for negotiation
Delaying the start-up time
Step 3: Keep all communication records
Every time you communicate with the platform, you should:
Record the conversation (inform the other party in advance).
Save chat history
Record key communication points
These could all become evidence in your favor in the future. I successfully filed a complaint because I kept recordings of threats and intimidation from a certain platform; I not only avoided paying penalty interest but also received an apology.
Step 4: Learn to use legal weapons appropriately
If you are indeed accelerated, don't panic:
Actively respond to the lawsuit and do not be absent.
Explain your difficulties in court.
Seeking court mediation
Even after a judgment is issued, you can apply for installment payments.
A friend of mine was owed 300,000 yuan and was fined. In the end, through court mediation, he was able to repay the loan in 60 installments of 5,000 yuan per month and kept his house.
Three common misconceptions to avoid
Myth 1: Thinking that owning a house guarantees enforcement.
Wrong! Execution is conditional:
First-time homebuyer status is generally not subject to mandatory enforcement.
Essential living assets are protected by law
Implementation should also take cost-effectiveness into account
Myth 2: Fear of speeding up leads to reckless repayments.
Some people panic as soon as they receive a lawyer's letter and scrape together a portion of their payment. But what's the result? The debt continues to accrue, disrupting their repayment plan.
The correct approach: Stay calm, try to negotiate first, and only consider partial repayment if that fails.
Myth 3: Believing in so-called "anti-debt collection" agencies
Many agencies claim they can handle everything for you, and their fees are quite high. Let me tell you, 90% of them are scammers. Real negotiation still depends on yourself.
Finally, a reminder: everyone's situation is different, but debts are always negotiable. The key is to find the right approach and remain rational.
I want to stop writing here and share my thoughts with you.
I know that right now, you might be tossing and turning in bed, your heart pounding from the constant stream of debt collection texts on your phone. You might have just hung up on your tenth collection call, your voice hoarse, still unable to explain why you can't pay this month. You might even be standing on a rooftop, looking at the city lights, feeling like you're the only one in the world suffering this pain.
I know that feeling all too well. Because three years ago, in the early morning, I stood in the same spot, tears streaming down my face, with only one thought in my mind: "If only everything could start over."
But do you know what? It was from that most desperate night that my life began to slowly change. It wasn't about getting rich overnight, or winning the lottery, but about finally understanding a truth: debt can crush a person's body, but it can't crush a person's soul.
I'll always remember that afternoon after our first successful negotiation. The customer service representative said on the phone, "Okay, we agree to your installment plan." That simple sentence brought tears to my eyes. It was then that I realized the sky hadn't fallen, that there was still a way forward, and that I still had a chance to start over.
From 600,000 yuan in debt to now being basically penniless, it took me four whole years to walk this path. In those four years, I learned so much. I learned how to deal with platforms, how to protect my rights, and most importantly, how to maintain hope in dire straits.
You must believe that all suffering has meaning.
This might sound like a motivational quote, but once you've truly gone through it, you'll understand that while debt causes pain, it also helps us grow. Looking back now, without this experience, I might never have understood true resilience, what it means to fight back from the brink of defeat, or how to appreciate everything I have now.
To be honest, life after getting out of debt isn't as glamorous as you imagined. You still have to get up early for work, still have to be frugal, and still encounter all sorts of difficulties. But the difference is that your mindset has changed. You're no longer afraid, no longer running away, because you know that if you can overcome a debt of 600,000 yuan, what obstacle can't you overcome?
If you're still feeling panicked and unsure of what to do after reading this, that's okay. Give yourself some time. Rome wasn't built in a day, and neither can debt be resolved overnight. But remember, as long as you don't give up and as long as you're willing to take action, you will definitely find your own way out.
I'm sitting here at my computer writing these words, the sunlight streaming through the window. Three years ago, I could never have imagined that I would one day be able to recall that painful experience so calmly. Time truly is the best healer; it heals all wounds and teaches you that what doesn't kill you makes you stronger.
So, my dear friend, please lift your head, wipe away your tears, and take a deep breath. The darkness will eventually pass, and dawn will surely come. And when you finally emerge from this gloom and look back, you will thank the version of yourself that didn't give up.
Remember, debt can limit your spending, but it can't limit your life.
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