Research On My Country’s Personal Bankruptcy Exemption System

The personal bankruptcy exemption system occupies a very central position in the personal bankruptcy system.Based on the relevant regulations of the individual bankruptcy system in various countries in the world,the personal bankruptcy exemption system has been emphatically constructed.The personal bankruptcy exemption system refers to a procedure in which natural persons with civil subject qualifications are unable to pay off their debts due to their participation in legal economic activities,and the courts will liquidate them in accordance with legal procedures,and finally exempt their debts.From a vertical perspective,the personal bankruptcy immunity system has a long history of development.Starting from the United Kingdom in 1705,early bankruptcy immunity and modern immunity have been born successively.Early impunity can’t make debtors get rid of unbearable debts,while modern impunity basically fulfills the function of helping debtors get out of bankruptcy.From a horizontal perspective,countries such as the United Kingdom,the United States,Germany,and Japan have all established their own personal bankruptcy exemption systems.In the Bankruptcy Law of the People’s Republic of China(Draft)issued in 2004,my country once made relevant provisions on the exemption of personal bankruptcy,but it was finally deleted in the officially promulgated bankruptcy law.The reason may be that my country’s economic development at that time was considered.The degree is relatively low,and individual bankruptcy exemptions are opened,and it is easy for debtors to abuse their rights and harm the interests of creditors.As my country enters a new era of socialism with Chinese characteristics,the reform and opening up continue to deepen,the national economy is growing rapidly,the level of consumer consumption continues to rise,credit consumption is very common,loan consumption has become the main form of consumer consumption,and the scope of consumer subjects continues to expand.This undoubtedly promotes the tremendous development of our country’s economy,but the problem that follows is that the natural person’s capital chain is broken and the number of insolvency situations has increased sharply,resulting in many potential risks in the economy and society.Therefore,the call for the establishment of my country’s personal bankruptcy immunity system is increasing in the practical and academic circles.In 2020,Shenzhen City of my country issued the "Regulations on Personal Bankruptcy of the Shenzhen Special Economic Zone",which stipulates corresponding provisions for bankruptcy exemption inspections.This has greatly promoted my country’s subsequent establishment of a nationwide personal bankruptcy exemption system.my country must start to establish a nationwide personal bankruptcy exemption system.It is necessary and feasible for my country to establish a personal bankruptcy exemption system.Analyzing from the necessity,constructing a bankruptcy exemption system is conducive to the transformation of my country’s economic growth mode;it is conducive to the development of a fairer market environment in my country;it is conducive to promoting the establishment of a sound personal bankruptcy system in China.From the perspective of feasibility analysis,my country’s personal property registration system has been continuously improved,the social credit system has been established and continues to be improved,and the previous legislative obstacles have gradually disappeared.Therefore,the basic conditions for establishing personal bankruptcy exemption are in place in my country.By analyzing and summarizing the bankruptcy exemption system of foreign countries(regions),we can see that there are three main bankruptcy exemption models in the current world,namely,permission exemptionism,natural exemptionism,and mixed exemptionism.Each model has its advantages and disadvantages.Which model is adopted is also related to the effectiveness and revocation of personal bankruptcy exemption,applicable conditions and non-exempt debts and other related content.At present,Germany and Japan adopt licensing immunity,the United States and Taiwan of China adopt natural immunity,and the United Kingdom and Australia adopt mixed immunity.Through the analysis of the model and related content,we can find suitable places that can be used for reference in the process of developing bankruptcy exemption in our country.The establishment of a personal bankruptcy exemption system in my country mainly focuses on three aspects.The first is the bankruptcy exemption model.my country should adopt licensing immunity in the early stage and mixed immunity in the later period.The second is the effectiveness and revocation of bankruptcy immunity.Based on the absorption of advanced experience from outside the territory,my country should make effective measures for this.Clearly stipulated;the third is the applicable conditions for exemption from personal bankruptcy and the debts that are not exempted.my country should pass clear regulations to ensure that all debtors subject to exemption are honest and unfortunate debtors.At the same time,it stipulates the types of debts that are not exempted.Guarantee social justice.Finally,through the further improvement of the relevant civil and criminal systems,the subsequent smooth operation of our country’s personal bankruptcy exemption system is guaranteed.