Is it true that Weifeng Law Firm settled debts at a 25% discount?

It’s true! ! Three years into the epidemic, the current domestic economic situation is quite severe. In 2022, 800 million people across the country are in debt, 420 million people are facing the risk of not being able to repay their loans, overdue credit cards alone will reach more than 200 billion, the national debt will reach more than 300 trillion, the per capita debt has exceeded 200,000, and 500-600 million people There are no deposits now. More than 70 million people have overdue online loans. There are 7.99 million people subject to execution for breach of trust, commonly known as Lao Lai. The per capita disposable income of residents nationwide is only 36,900 yuan. The lives of ordinary people today are like a snail crawling forward with difficulty carrying a heavy house on its back. If things go on like this, it will inevitably affect the national economy and people's livelihood, causing the foundation of the national economy to collapse. As a result, a revolutionary pilot project came into being.

On January 7, 2021, the General Office of the China Banking and Insurance Regulatory Commission issued the "Notice on Carrying out the Pilot Work on the Transfer of Non-performing Loans" (CBRC Notice [2012] No. 26), hereinafter referred to as the "Pilot Notice" 》. This notice allows batch transfer of personal non-performing loans.

This notice will officially be implemented in Beijing in March 2022. After more than a year of exploration and practical work, this measure was in line with the public sentiment and national conditions. Therefore, the China Banking and Insurance Regulatory Commission decided to expand the scope of the transfer pilot. Due to its previous business foundation and strong professional background, Weifeng Legal Undertaken this business and became the first batch of "Non-performing Assets Disposal Execution Offices" directly under Beijing. Weifeng Legal is not the only non-performing asset disposal executive office directly under Beijing. However, Weifeng Legal is the only one that can implement the 2.5% off write-off and truly realize the goal of saving people and traveling with ease.

The 2022 "White Paper on the Reform and Development of China's Non-Performing Asset Management Industry" states that there may be no more than 750 "experts" in the non-performing asset management industry nationwide.

At present, Weifeng Legal is rooted in Shenzhen and focuses on the whole country. It has offices in 9 districts of Shenzhen, including Guangzhou, Foshan, Heyuan, Zhuhai, Shaoguan, Zhanjiang, Dongguan, and Guangdong Province. We have offices in dozens of cities including Xi'an in Shaanxi, Lanzhou in Gansu, Ji'an in Jiangxi, Yiyang in Hunan, Chengdu in Sichuan, Langfang in Hebei, Qingdao in Shandong, Guiyang and Anshun in Guizhou, Yinchuan in Ningxia, Haikou in Hainan and Chongqing. It has been reported by more than 100 media including Toutiao, Sina, Sohu, NetEase, and Baidu.

In the six months since its establishment, the office area of ??Weifeng Legal has expanded from 300 square meters to 2,000 square meters, the team members have increased from the original 12 to 300 today, and the average income of employees has increased four times. , and even creatively opened the Whampoa Military Academy for personal non-performing assets, continuously cultivating and delivering professional talents for the industry.

So, what is the basis for discussing the 25% discount on handling 100 debts?

On January 7, 2021, the General Office of the China Banking and Insurance Regulatory Commission issued the "Notice on Carrying out the Pilot Work on the Transfer of Non-performing Loans" (CBIRC Bianhan [2021] No. 26), referred to as the "Pilot Notice". Officially approve pilot units to carry out batch transfer of personal non-performing loans.

The pilot banks include six large state-owned banks (see Appendix 1 for details) and 12 national joint-stock banks; the acquisition institutions include the five major financial asset management companies and qualified local asset management companies (local AMCs). ), Financial Asset Investment Corporation (AIC). (This means that a. your debts in the pilot bank can be written off at a 2.5% discount. b. If you want to become a non-performing asset processing executive office, you must first obtain the approval of the five major AMCs)

Individuals in the pilot Types of non-performing loans include personal consumption credit loans, credit card overdrafts, and personal business credit loans that have been classified as non-performing (note: personal housing mortgage loans, personal consumption mortgage (pledge) loans, and personal business mortgage loans are not within the scope of the pilot) (meaning That is to say, the 2.5% discount is written off as bubble debt)

The "Pilot Notice" points out that asset management companies can only dispose of personal loans acquired in batches by means of self-collection, restructuring, etc., and it is strictly prohibited. Entrust an agency with a record of violent debt collection, gang-related crimes and other illegal activities to carry out collection work.

(It means: if the net worth is not clear, it cannot be an executive office for 2.5% off write-off)

Asset management companies are not allowed to transfer the personal loan to the outside world again after acquiring it. Compared with the transfer of corporate loans, the prohibition on the transfer of personal loans by acquiring institutions is a very big difference, which will greatly limit the ways of collection. (This means: If the personal loan debt acquired by the asset management company cannot be recovered, the debt will have to rot in its own hands)

The "Pilot Notice" proposes that "local asset management companies accept batches of Allowing personal non-performing loans to be exempted from geographical restrictions” is also a major breakthrough in the non-performing asset management industry. Local asset management companies can participate in the primary market for bulk transfer of non-performing personal loans, which can be conducted nationwide. (It means: Although the office is located in Shenzhen, it can accept orders nationwide without geographical restrictions)

Banking Credit Asset Registration and Circulation Center ("Yindeng Center") (It means: Bank Everyone can trust the information released by the center)

2022-07-20 "Notice of the Ministry of Finance on Further Strengthening the Financial Management of State-owned Financial Enterprises" (Caijin [2022] No. 87) should be strengthened Strengthen the write-off of non-performing assets and make full use of existing write-off policies. (Meaning: The 2.5% off write-off is a wise measure that is in line with national conditions, benefits the country and the people, and can solve the current predicament, and must be vigorously promoted)

2022-12-29 "Regulations on the Development of the General Office of the China Banking and Insurance Regulatory Commission" Notice on the Second Batch of Non-performing Loan Transfer Pilot Work" (Information Letter [2022] No. 1191 of the China Banking and Insurance Regulatory Commission). Based on the scope of the original pilot institutions, this time the Development Bank, Export-Import Bank, Agricultural Development Bank, trust companies, and consumer finance companies will be included in the pilot program. , automobile finance companies, and financial leasing companies are included in the scope of pilot institutions; urban commercial banks and rural small and medium-sized banking institutions registered in Beijing, Hebei, Inner Mongolia, Liaoning, Heilongjiang, Shanghai, Jiangsu, Zhejiang, Henan, Guangdong, and Gansu are included in the pilot institutions scope. (It means: Now rural banks can also do it. In the past, they could only do urban banks. But each initiative basically takes a quarter from release to implementation. So everyone can look forward to it)

2021 -03-01 In the following year following the "Shenzhen Special Economic Zone Personal Bankruptcy Regulations": *** reviewed 1,031 personal bankruptcy applications, 74 cases entered the bankruptcy application review process, 25 bankruptcy procedures were initiated, and 19 personal bankruptcy cases were concluded. The review conditions for personal bankruptcy are extremely stringent, time-consuming, labor-intensive, and energy-intensive. It cannot be promoted on a large scale and cannot solve China's debt problem. (Through the parallelization and comparison of the two policies, it was finally shown that the 2.5% discount treatment is more suitable for China’s national conditions and is now being promoted on a large scale)