Study On Exemption System Of Personal Bankruptcy

As the economy accelerates,personal bankruptcies are rising.China is currently only piloting personal bankruptcy in Shenzhen,while some other regions are implementing a "centralized liquidation system of personal debt".Personal bankruptcy as a legal withdrawal mechanism of the debtor,its exemption system will give the debtor the hope of rebirth.In view of the current situation of our country and the need of international law,as soon as possible to introduce the personal bankruptcy exemption system has become an urgent and critical task.This paper is studied from the following parts:In the first part,the author will describe the past life of the personal bankruptcy exemption system.This paper discusses in detail how the connotation and applicable subject of "personal bankruptcy exemption" change and finally accepted by the public,and analyzes the reality and legislative needs of establishing personal bankruptcy exemption system based on "the change of concept,the development of social economy and the existing domestic relevant system".It mainly includes the following points: first,the connotation and historical origin of the personal bankruptcy exemption system;Second,the theoretical basis of the system;Thirdly,the necessity and feasibility of establishing the personal bankruptcy exemption system: the necessity is analyzed from two aspects of legislative necessity and realistic need.The feasibility is demonstrated in detail from the following three aspects: meeting the needs of social concept and economic development,possessing the supporting credit system and property registration system in China,and rich experience of domestic legal system.In the second part,the author focuses on the legislative status and implementation difficulties of the personal bankruptcy exemption system in China.Firstly,the legislative status is mainly analyzed from two dimensions of vertical time and horizontal region.The vertical time dimension is from the Enterprise Bankruptcy Law of the People’s Republic of China（trial）in 1986 to the trial of personal bankruptcy in Shenzhen Special Economic Zone in 2021,and the overview of each proposed "personal bankruptcy" during the period is analyzed.The horizontal dimension mainly compares the individual bankruptcy pilot in Shenzhen and the implementation of the centralized liquidation system of personal debt in other regions;Secondly,the implementation dilemma is expounded from three perspectives: the scope of exemption subject is not clear,the choice of exemption mode and the lack of uniformity.By analyzing the current situation of legislation and the difficulties of implementation,the author explains why China has not adopted a unified personal bankruptcy law so far.In the last part of this paper,the author puts forward the corresponding suggestions for the improvement of the above dilemma.It mainly includes: first,define the applicable object;Second,establish a debtor review mechanism.On the premise that the scope of the applicant is all natural persons,to ensure that the applicant is a suitable debtor;Thirdly,make clear the exemption mode and choose the permission exemption;Fourth,the analysis of the situation and not exempt from liability;Fifth,standardize the debt without exemption;Sixth,the cancellation of exemption;Seventh,perfect individual credit information system.Make full use of credit investigation system to inquire debtor’s credit status,relax the inquiry subject of personal credit,perfect the registration system of personal movable property.