Analysis Of The Necessity And Feasibility Of Personal Bankruptcy Legislation

Individual bankruptcy legislation was rejected as premature in the early 2000 s,but over time,the supreme people's court,the national development and reform commission and other sections have issued papers raising the issue again.As the first case of personal bankruptcy in the mainland,intermediate people's court of Wenzhou,Zhejiang,made a judgment that the total debt of more than 2 million yuan was paid off in a one-time amount of more than 32,000 yuan in a 1.5% proportion within 18 months to CAI,who lost the ability to repay debts.The problem of personal excessive debt is becoming more and more serious,which affects personal life,restricts economic development,and promotes personal bankruptcy system.Personal bankruptcy legislation is conducive to the honest and unfortunate people to get a chance to start again to protect their right to survival and development;It is beneficial for the creditor to further clarify the debtor's credit assets and liabilities,and carefully choose the transaction object to safeguard the creditor's rights;It is conducive to the construction of social integrity to maintain a healthy and harmonious,highlighting the necessity of legislation.On the feasibility of legislation,the preliminary forming the social credit system construction,regulate the choice of the main body in the court system of the construction of external debt clearing procedures and various have properly arrange all at the same time,must have the corresponding support system,improve the system of personal credit investigation system of personal property declaration and registration as well as the social security system,to ensure personal bankruptcy code can run smoothly.Based on the development of the socialist market economy and the enactment of laws and other basic national conditions in China,based on the traditional culture and guided by the advanced experience of foreign countries,an individual bankruptcy system that can not only show respect for the rights of creditors and debtors,but also safeguard social interests and promote the development of the market economy is constructed step by step.