Comparative Research On Consumer Bankruptcy Regimes

Consumer Bankruptcy is the procedure of consumer’s bankrupting, one mostly stands for intentional bankruptcy caused by the insolvency of consumers, which is probably the result of credit over-enlargement. This question occurs as a new subject under discussion in the field of bankruptcy law on how to study consumer bankruptcy system through comparing method. This paper’s intention is to search for the solution path of consumer’s insolvency disputes by the comparing method mentioned above with five chapters included. Taking the developing level of China’s consuming market and current system of bankruptcy law into consideration, my goal in this paper is to comparing and studying the legislation and practice of consumer bankruptcy in related countries, in order to draw a conclusion on the proper structure of consumer bankruptcy’s designing and operating and analysis the necessity, feasibility and obstacle of consumer bankruptcy law’s transplantation.Chapter 1 gives out a brief introduction of consumer bankruptcy system. As a newly rising concept in bankruptcy law, consumer bankruptcy law differs from traditional natural person bankruptcy and individual bankruptcy both in intension and extension. This chapter also begins with the definition of consumer bankruptcy and explores the meaning and value of the existence of consumer bankruptcy through analyzing the features of consumer bankruptcy. Accounting for the need of specify consideration on this sort of bankruptcy, Chapter 1 firstly analysis the reason, content and ideology of consumer bankruptcy theoretically. Secondly, Chapter 1 compares the structuring and modeling of a couple of countries’bankruptcy legislation in practice, concluding four kinds of legislation structuring and two primary legislation modeling, which lays a foundation for further analysis on the differentiation between Anglo and and its cause.Chapter 2&3 attempt to solve the problem of how consumer bankruptcy system should be structured and operated both inside and outside the court, which highlights them as core part of this paper. On one hand, the feature of consumer bankruptcy is large-quantity, small-amount and short of bankruptcy property, which makes the compromise system outside the court necessarily burden a large part of this sort of cases. On the other hand, those insolvent brokee need formal bankruptcy procedure to get the opportunity of debt exempt partly or wholly, which also means an opportunity back to the society for them. According to whether outside court compromise be seen as an compulsory condition to trigger inside court bankruptcy procedure, both legislation mode required-model and choice-model consist the legislation of outside court compromise。Either one has its advantages and disadvantages, while more and more countries choose required-model as their legislation model. In the procedure of outside court compromise, consumer debt liquidating agency act as mediate and play a key role in making, reaching and acting the paying-off plan. That is why Chapter 2 focuses on explaining its organizational structure, source of fund, manning and function. Meanwhile, its goal is to conclude how to build an effective consumer debt liquidating agency outside the court. Considering about the developing trend of consumer debt liquidating mechanism, Chapter 2 finally bases on the solution of consumer insolvency dilemma in China and further explore the structuring of China’s consumer debt liquidating mechanism outside the court.Chapter 3 abandons the thought of reaching all aspects on introducing the bankruptcy procedure inside the court; instead, it concentrates on the discussion about Relief Regime, which is the core issue in consumer bankruptcy field. Depending on the different extend of relief offered by different countries, Relief Regime can be concluded into three types of legislation model:None-relief, Permitting-relief and Certain-relief. The existence and choice of these three are decided by the legislation tradition, management of consumer credit market and welfare policy. At the same time as the consumer debt issue becomes more and more serious in recent decades, Chapter 3 pays attention to the new development of consumer bankruptcy relief legislation field in representative countries, through which the new world trend of consumer relief regime can be tracked.Through above comparing study the difference of consumer bankruptcy system in both procedure and entity can be found, Chapter 4 is a derivative of the study and explore the solution path of international consumer insolvency disputes. This chapter primarily sets eyes on the settlement of consumer bankruptcy cases in European Union, which expands in three ways:jurisdiction, choice of law, and the recognition and enforcement of foreign judgement. Beneath the background of limited universalism,Chapter 4 relates and analysis the influence and significance of relative factors such as the COMI、les fori concursus, etc.Since the comparing method intend to solve the current problem of China, as the conclusion and foothold of this paper. Chapter 5 researches the realistic dilemma and theoretically choice of consumer bankruptcy legislation in China, which is based on the foundation of the above analysis. First of all, it discusses the current solution of consumer insolvency issue in China and its shortage in the absence of consumer bankruptcy system. On the topic of introducing foreign consumer bankruptcy, Chapter 5 analysis the reason why China hasn’t start the legislation procedure yet and why these reasons exist for long, then it goes on to consider the necessity of consumer bankruptcy system for China’s legislation, lastly it draws a conclusion on the current condition of structuring consumer bankruptcy system presently, so as the condition still needed. The final part of this paper considers about the legislation of China’s consumer bankruptcy in details based on the operating of consumer insolvency solution both inside and outside the court.