This study focuses on what are the weaknesses of the regulation on the protection of debtor’s rights in the current ship mortgage guarantee credit agreement and how is the reconstruction of the regulation on the protection of debtor’s rights in the ship mortgage guarantee credit agreement based on the value of justice. This study uses a constructivism paradigm with a sociological juridical approach to solve research problems by examining secondary data and primary data by finding the legal reality experienced in the field as well as qualitative descriptive methods, namely where the data obtained are then arranged systematically so that a comprehensive picture will be obtained to then be presented descriptively. The result shows that the weaknesses are in the substance of the law, legal structure, and legal culture, so it is necessary to reconstruct the law in (a). Article 1162 of the Civil Code and Article 1 number 12 of Law Number 17 of 2008 concerning Shipping. (b). Article 314 paragraph (1) and paragraph (3) of the Commercial Code. (c). Article 60 paragraph (2), paragraph (3), and paragraph (4) of Law no. 17 of 2008 concerning Shipping. (d). Article 224 of the Civil Procedure Code (HIR) (e). Article 1178 paragraph (2) of the Civil Code.