Research On The Exemption System Of Personal Bankruptcy

Recent years have witnessed a spurt of progress ineconomy,personal debt has become more serious.Some areas of our country have begun to issue and implement local regulations,judicial guidance documents and other normative documents similar to personal bankruptcy system one after another.In essence,personal bankruptcy system has been implemented for a long time in many countries with developed market economy.Disclaimer system in personal bankruptcy system is an important measure to protect debtors and an important content of bankruptcy system.The implementation of the exemption system is not only beneficial to help the "honest and unfortunate" debtors get out of the haze of debt as soon as possible,but also conducive to the realization of creditor’s rights as soon as possible,balance the interests of creditors and debtors,resolve the difficulty of judicial enforcement and other problems.Under the background of constant improvement of credit investigation system and property registration system,our country should speed up the legislative process of establishing the personal bankruptcy disclaimer system.This paper is divided into four parts.The first part mainly discusses the concept of the liability exemption system and explains that the liability exemption system is based on debt cooperation theory,risk allocation theory and social utility theory.The second part analyzes the necessity of establishing the personal bankruptcy exemption system from three aspects: the current situation of personal excessive debt increase,the personal bankruptcy exemption system is conducive to resolving the judicial "execution difficulties",optimizing the business environment and promoting economic development.This paper discusses the feasibility of establishing a disclaimer system in terms of the current era,such as the liquidation of debt amoralization,the continuous improvement of credit investigation system and related systems.The third part expounds that it is more suitable for our country to establish the individual bankruptcy impunity system and adopt the license pattern.Part four puts forward some concrete suggestions on our country’s construction of the system from the aspects of its scope,effectiveness and abuse.First of all,commercial natural person and natural person should be the applicable subject of exemption system.Secondly,from the perspective of avoiding the abuse of the system and the discretion of the judge,enumerated provisions of the exemption of property and non-disclaimer of debt.Meanwhile,When recommending the establishment of a national exemption system in the context of our current national situation,we can learn from Shenzhen Special Zone’s regulations,namely,the continuous time of the liability exemption is eight years.Thirdly,it analyzes the effect of personal bankruptcy exemption system on creditors,debtors,third parties,marriage and family.Finally,in order to avoid the abuse of the personal bankruptcy exemption system,the author puts forward the establishment of the investigation period,the lost right recovery system,the cancellation system and the improvement of the supporting system of personal bankruptcy exemption,such as: establishing a special bankruptcy court,establishing an administration department for bankruptcy affairs,improving the registration of personal property,and improving the social security system.