Research On Debtor’s Moral Hazard In Natural Person’s Bankruptcy Exemption

The phenomenon of excessive debt of natural persons has been a social problem for a long time which is the inevitable result of the general commercialization of social environment.On the one hand,the rapid development of credit industry that is under the constant change of personal economic life which leads to the rapid expansion of credit consumption as well.On the other hand,natural person that carries out commercial activities and take up a series of commercial risks that lead to a life that is too difficult to live on.But the existing system doesn’t provide a legally exiting mechanism for them,however,meanwhile that there are a huge number of enforcement problems that haven’t resolved in the court also results in a chain reaction caused by excessive debt of natural persons trending to be thought of in a serious way.The bankruptcy of natural person that differs from the bankruptcy of enterprises that the bankruptcy of natural person,of course,would inevitable occurs the procedure of debt relief that arouse the concerns of the people in the society: Would debt relief become an institutional tool into debt evasion? How to regulate moral hazard of debtors effectively? Would bankruptcy exemptions slip into abusement? How to maintain the trust foundation and do a effective adjustment mechanism of debtor,creditor and publice interst in accord with the bankruptcy law? n view of the above problems,I,the author of this paper,try to base on the moral hazard of the debtor in bankruptcy exemption,divide the paper into four parts as follow:Chapter first is about the bankruptcy of natural person and the debtor moral hazard’s overview.Defined at first,the concept of natural person bankruptcy that from board of broken legacy.To start from the realistic problem of excessive debt that debt relief from the inevitable relation with moral hazard of deconstruction,and demonstrate the formation of moral hazard in debt relief.Chapter two the paper shall analyzes the feasibility of controlling the debtor’s moral hazard in the current bamkruptcy of natural person through the existing legal basis,institution basis and realistic basis.Through the requirements of value of bankruptcy that fair,good faith and effective to demonstrate the necessity of legal controlling of debtor’s moral harzard.Chapter three the paper shall do the debtor’s moral hazard categorization through the guide of bankruptcy legisaltion and different countries legislation to give some experience of categorization,and extract the standards or composition elements to summarize four typical pattern of debtor’s moral hazard.Chapter four the paper shall demonstrate the controlling of debtor’s moral hazard from two different angel consists of prevention and regulation.Prevention lies on correcting the asymmetry of information which is mainly manifested in declaration,management and preservation system of bankruptcy property,so as to maintain the integrity and stability of bankruptcy property,improve the information disclosure system and emphasize the subject of information disclosure obligation,the contend of disclosure.The controlling is centered on the regulateion of moral hazard and the regulate effect of moral hazard which is ahiceved by strengthening the recovation right system and recovery system.