Study On The Admittance Condition Of Personal Bankruptcy System

Since June 1,2007,China has implemented the Enterprise Bankruptcy Law,known as the half of the "Bankruptcy Law".Its scope of application is limited to the enterprise legal person,and it is difficult for individuals to obtain legal relief when they are insolvent.Constructing a perfect personal bankruptcy system can improve the existing legal system of our country,accord with the current situation of our country’s rapid economic development.Personal bankruptcy,as a system to withdraw from the market economy,gives the debtor "a chance of rebirth" by clarifying the debtor’s debts.It is a prerequisite for the initiation of personal bankruptcy proceedings that the debtor has access to personal bankruptcy proceedings.The admittance condition of personal bankruptcy system should have clear scope.The admission conditions of personal bankruptcy system mainly involve the debtor’s bankruptcy ability and bankruptcy reasons.On the construction of the admittance conditions of personal bankruptcy,it is advisable to adopt a relatively high threshold to reduce the pressure of judicial work and prevent the abuse of bankruptcy procedure.The strict and reasonable admission conditions of the personal bankruptcy system is the premise of the operation of the personal bankruptcy system and the guarantee to promote the rapid settlement of the debt problems.