Research On The Construction Of The Legal System Of Personal Bankruptcy In China

This paper selects the debt dilemma of “Yu Huan Case” and the case of centralized liquidation of personal debts in Wenzhou as negative and positive cases,then introduce the concept of personal bankruptcy and focus on analyzing which expression should be more appropriate for personal bankruptcy.The difference between personal bankruptcy and enterprise bankruptcy is another important part of the first chapter.At the second chapter,the history and present situation of personal bankruptcy will be firstly introduced.Secondly,the reality of the current social and economic development has put forward more urgent requirements for the establishment of personal bankruptcy in China.The necessity is mainly embodied in: establishing personal bankruptcy system may perfect our bankrupt law system,protect personal right of market exiting;and it may realize the basic concept of equal protection of creditors and debtors in the bankruptcy law;and it may solve the difficulties of court execution and maintain the stability of market economy order;and it may realize the international integration of Chinese bankruptcy legal system and protect the rights of Chinese citizens to participate in international investment and trade,also might protect the property of foreign citizens in China.Finally,our country also has a good foundation for constructing the personal bankruptcy: the personal credit investigation system led by the central bank has begun to take shape,which can provide information basis for the personal bankruptcy;the social credit system is changing from a single individual credit information management to a comprehensive individual credit system.The maturing of the social security system has solved the worries at home for personal bankruptcy.The main countries of the two legal systems have been quite mature in personal bankruptcy system and accumulated rich practical experience.In terms of the system design,it follows the principle of gradual,fair and efficient.I suggest we can adopt the general bankruptcy legislation mode and constructs the standard procedure and summary procedure of personal bankruptcy.The free property system,the permission exemption system and the loss and restoration right system should be also designed.At the same time,the establishment of individual credit joint credit investigation system and comprehensive individual credit account is of prime significance.Last but not least,personal property registration system and the bankruptcy crime system are also should be improved.