| Personal insolvency system is part of the bankruptcy system. Although China has no personal insolvency legislation yet, but the academic circles have never stopped discussion about it. After the Wenchuan earthquake in2008, problems caused by the lack of personal insolvency system attracts attentions. Academic circles set off a discussion on the timing on personal insolvency legislation once again, and making personal insolvency law as soon as possible is increasingly vocal.Personal insolvency system is the product of economic development to a certain stage. Its construction will fill the blank of our bankruptcy legislation, and contribute to fill the gaps in our bankruptcy legislation, promote the realization of creditor’s rights. Individual debtor will obtain the necessary relief as soon as possible, and it will also promote the debtor-creditor relationship fairly clean, safeguard the normal order of market economy, maintaining social stability. Under this background, author studies the problem of constructing China’s personal insolvency legal system.This paper is divided into the following parts:The first part provides an overview of the personal insolvency and Personal Insolvency Law. First of all, define the concept of the personal insolvency and analyzes the categories of general causes of personal insolvency; Secondly, define the concept of the personal insolvency law, then introduce its functions and main content, and analyzes the situation of the Personal Insolvency Law at home and abroad.In the second part, the necessity of personal insolvency legislation of our country is analyzed. Starting from the theoretical basis of private law’s equity, author discusses the practical needs from the unification of the system response, disaster response, consumer credit risk prevention, and in line with international standards.In the third part, the feasibility of personal insolvency legislation is described. The status quo of social credit system, social security system and the traditional ideas have provided the condition for the individual insolvency legislation, while the urban-rural dual economic structure and personal property registration system aren’t the block of personal bankruptcy legislation. So China’s personal insolvency legislation has the feasibility.In the fourth part, the author put forward the thought of constructing our personal insolvency legal system. Firstly, put forward to establish separate personal insolvency law for the problem of selecting legislation in China’s personal insolvency legal system; secondly, from the point of the personal insolvency procedural system, author propose own conception on construct of the cause of bankruptcy, personal insolvency legal system of conciliation system and the reorganization system; finally, from the point of personal bankruptcy substantive system, author propose personal idea on construction of personal insolvency consortium, the free property system, exemption system, and the loss of rights and rehabilitation system. |
