The Construction Of A Personal Bankruptcy Exemption System In China

The personal bankruptcy exemption system,as the most distinctive system in the personal bankruptcy law,reflects the legislative orientation,value,and trend of the personal bankruptcy law.In order to ensure the smooth operation of China’s social economy,alleviate social conflicts caused by personal economic crises,and better build a harmonious society,and alleviate the reality that independent individuals are unable to cope with debt difficulties due to economic crises,through in-depth exploration of the exemption system for personal bankruptcy outside the region,and drawing on the design of systems in countries such as the United States,the United States,and Japan,China has introduced and continuously explored a personal bankruptcy exemption system that is in line with China’s national conditions in practice.Shenzhen,as the first pilot city,took the lead in introducing the "Shenzhen Special Economic Zone Personal Bankruptcy Regulations",officially opening the exploration path of China’s personal bankruptcy exemption system.Subsequently,Zhejiang,Jiangsu and other places began to explore the development process of sinicization of the personal bankruptcy exemption system.The construction of China’s personal bankruptcy exemption system mainly needs to measure the following aspects:(1)the selection of the mode of personal bankruptcy exemption in China;(2)The problem of setting the conditions for the personal bankruptcy exemption system:(3)the revocation of personal bankruptcy exemption;(4)The issue of debt scope without exemption;(5)The construction of a supporting system for personal bankruptcy exemption.Based on the investigation and exploration of the above aspects,starting from the construction of a personal bankruptcy exemption system that is in line with China’s national conditions,the following institutional suggestions are proposed.Firstly,drawing on the practical achievements of Shenzhen and other pilot cities,a exemption model led by the licensing exemption model is constructed,and various elements in the personal bankruptcy exemption system are systematically sorted out to form a complete and unified logical theoretical framework.Clarify the conditions for personal bankruptcy exemption,and reasonably set the exemption inspection period and repayment ratio.Clearly define the types of debts that are not exempt from liability and the debts that are not exempt from liability by law.Actively improve the supporting system for personal bankruptcy exemption,establish a tracking and research mechanism,and continuously leverage the humanitarian care of the judicial system during the case process.Establish educational mechanisms to prevent debtors from falling into economic difficulties again.Establishing an understanding mechanism to build a communication bridge between creditors and debtors is still a long way from forming a systematic personal bankruptcy exemption system.Therefore,establishing a personal bankruptcy exemption system as soon as possible and compensating for the lack of superior law is an effective path to help debtors solve crises and promote the improvement of China’s legal system.