Based on the credit default swaps (CDS) agreement, this paper proposes a reverse credit default swap (RCDS) agreement to avoid credit loan risk. It defines the reverse CDS agreement, designs the pricing contracts about the reverse CDS agreement, and discusses the risk “captivity” principle about the reverse CDS agreement. Under the no arbitrage principles, the paper establishes a reverse CDS agreement pricing model with unknown default probability. Assuming the asset value movements of a corporation abides by a Brownian motion and a compound Poisson process with the synthesis of a plurality of independent Poisson process, under the risk neutral measure, the paper establishes a stochastic differential equation about the asset value movements of the corporation with both Brownian motion and the compound Poisson process. The default probability and the reverse CDS agreement pricing formula are derived. Finally, through a numerical analysis, it discusses the relationship between interest rates, reverse CDS prices, loan terms, default probabilities, the ratio of the initial assets over default boundary and other factors. Corresponding risk avoiding measures are given. The research has a good reference value for the practical applications.