The Research On China's Personal Insolvency Law System

As the source of bankruptcy, the Personal insolvency system has been not incorporated into our legal system,but the discussion and progposal of the academic community has never stopped. With the development of market economy in our country,a stage of personal credit, trade,consumption and other economic behaviors become mature.However, the healthy operating of market economy and the law enforcement have been influenced adversely by the the absence of individual insolvency system.On the other hand,feasibility basis have been provided for personal insolvency system,with the rapid development of the security systems,which is represented by individual credit investigation system. All calls for personal insolvency legislation.Compared with the corporate bankruptcy, personal insolvency is more complex,due to human's natural attributes and social interaction; and in the localization of Construction,personal insolvency system can not simply draw on the experience of foreign mechanism, because of urban and rural dualistic economic system, the traditional concept of debt and other national conditions,Based on this, recommendation on the systems and procedures of the legislation was made in this paper,based on theoretical analysis and national conditions research.The paper is divided into five parts:Based on current legal system and economic situation of China,the first part discusses the necessity of personal insolvency, and the development of personal credit system gives feasibility for personal insolvency;the ability of personal insolvency, insolvency subject, scope and other border issues is studied in the second part,from the point that natural and legal persons shall have the same ability to bankrupt,then the personal bankruptcy system construction connotation and extension is clarified. The third part discusses personal insolvency program, including ordinary procedures and simplified procedures, Compromise and reorganization,as well as mutual conversion between those programs.The fourth part is core part of this paper- How to build freedom of property system and liability exemption system;and the right termination and recovery system is elaborated in the last part, then author suggests that it's more appropriate for China to use the doctrine of mix right termination and inevitable recovery.