The Restructure On The Rearranged Repayment Of Individuals

The repayment of individual debt is of great significance to solve the difficulties of execution,optimize the business environment and stabilize the financial system.Rearranged repayment is a judicial relief system in which the debtor’s future income and interest are paid off to the creditor.Compared with liquidation,it is conducive to the maximization of repayment.In recent years,various parts of China have actively explored the personal bankruptcy system and innovated the way of debt repayment on the basis of the execution procedure under the current statutory framework.The individual debt repayment procedure in Wenzhou is Rearranged repayment,which aims to provide judicial relief to individuals who was insolvent.However,the judicial relief to the insolvent individual judicial relief should be the fair compensation to all creditors and the proper protection of the interests of the debtor.Due to the feature of the procedure in Wenzhou,it is difficult to express the essence of personal bankruptcy relief under the current statutory framework.Based on the analysis of the problems existing in the individual debt repayment procedure in Wenzhou,including value orientation,the applicable subject,the repayment rate,the period,the approval of the reearranged plan,and the legal status and functions of the administrators,this dissertation holds that the rearranged repayment based on the execution procedure can not solve the over-indebtness of individuals.We should build a individual debt repayment based on bankruptcy procedure,that is,to establish individual rehabilitation procedure.This dissertation shows a comparative analysis of the personal bankruptcy and rehabilitation procedures in foreign countries and Taiwan region of China,and draws lessons from the specific content of the personal bankruptcy and rehabilitation procedures in foreign countries and Taiwan region of China.This dissertation holds that the construction of personal rehabilitation procedure in China should be based on the protection of creditor’s rights,and properly protect the survival and development interests of the debtor.And combined with the local factors of China,this dissertation puts forward practical suggestions for its this individual rehabilitation procedure.Therefore,rearranged repayment based on bankruptcy procedure can realize the "win-win" between creditors and debtors,promote the "clearing" of over-indebtness in China,and promote the development of market economy and social harmony and stability.