Home>News Center>Life

Rewards for tip-offs on debtors
(Shenzhen Daily)
Updated: 2004-05-27 08:45

The Intermediate People's Court of Guangzhou published a regulation Tuesday to help creditors recover debts by offering a reward for information on the debtors' property, the Southern Metropolitan News reported.

The rule was formulated to prevent hardened debtors from concealing private property from the court, the report said.

Creditors willing to offer rewards could file applications to the court, and publish their reward notices on Internet or in the mass media after being approved, a court spokesman said.

The court will dedicate a online bulletin on its Website to publicize the reward offers, as well as three hotlines to take phone calls from informants. All the services would be free, but if a creditor chose to publish his offer in other media, he would have to cover the cost himself, the spokesman said.

If the information does lead to the payment of the debt, the informant will be rewarded within two months of the debt being paid, and the amount will be based on the payment and progressive rates formulated by the court unless the informant and the creditor agree otherwise.

To avoid illegal practices, government workers who have the means to obtain information and the creditor or his agents and employees would be ineligible for rewards, the report said.

Earlier this month, a district court in Foshan City published a "restriction rule" to prohibit hardened debtors from living a luxurious lifestyle while still having outstanding debts.

  Today's Top News     Top Life News

Wen raises 5 proposals to attain global prosperity



Key officials 'knew' of bad milk powder



Official: No ceiling on US film imports



Nuclear scientist to become Iraqi premier



Hospital releases SARS vaccine test result



Local gov'ts told to curb price hikes


  Rewards for tip-offs on debtors
  What does your hair say about you?
  Face transplants inch toward reality
  Chinese educators welcome 'multiple intelligence' theory
  MTV to launch gay cable network
  Boys in the band
  Go to Another Section  
  Story Tools  
  Related Stories  
Credit info system to help banks
Credit system monopoly fear rises
Shipbuilding credit to expand
Domestic banks losing credit market - report
Joint bank credit supports chip-making base
Chinese bank sets up credit risk reporting system
Bank credit funds go to market
  Pitt voted smelliest celebrity!