Personal bankruptcy system is a legal system in which a person declares bankruptcy and cancels debts through legal procedures when his personal assets cannot repay all debts. Within a certain period after the bankruptcy ruling, the bankrupt shall not engage in extravagant consumption and commercial activities unless he enjoys the right of basic living. The establishment of personal bankruptcy system can exempt individuals with serious economic difficulties from certain debts through personal bankruptcy procedures, so that they can achieve normal production and life through renewed efforts.

The Standing Committee of Shenzhen Municipal People's Congress promulgated the Regulations of Shenzhen Special Economic Zone on Personal Bankruptcy (Draft for Comment), and formally solicited opinions from all walks of life. The introduction of "personal bankruptcy" system has taken us a step further.

In real life, it is inevitable that some unfortunate people will become poor because of natural disasters, diseases, markets, commerce and other reasons. Personal bankruptcy law gives those "honest and unfortunate people" a chance to redeem themselves, and it has also become a standard in countries and regions with developed commercial civilization.

At present, the society's understanding of the "personal bankruptcy system" is that if the debtor owes a huge sum of money and doesn't want to pay it back, he can apply for "personal bankruptcy", and after a few years of "hard life", he can be exempted from debt and resurrected with blood. Is there really such a good thing?

It's not that simple. For example, according to Shenzhen's Personal Bankruptcy Regulations, if you want to apply for "personal bankruptcy" and get rid of debts, you need to meet the following conditions at the same time:

First, declare the property truthfully, that is, go back three years from the date of application, and there is no act of transferring, concealing or unreasonably disposing of the property. As the first step in filing for bankruptcy, the applicant needs to truthfully declare all his property, going back three years. There is no transfer, concealment or unreasonable disposal of property. It is basically not feasible to transfer assets in this way and then file for bankruptcy and maliciously evade debts.

On the one hand, there will be a professional bankruptcy administrator to review the applicant's behavior. On the other hand, China's increasingly perfect financial account supervision system also makes the transfer of malicious assets inevitable.

In addition, the improper punishment of enterprise bankruptcy in Enterprise Bankruptcy Law only dates back to one year, while the Personal Bankruptcy Ordinance dates back to three years, which also shows that the legislation has stricter requirements for personal bankruptcy.

Second, except for the assets necessary for life, all other assets are disposed of to pay off debts. After confirming the property, the bankruptcy administrator will leave a part of the property (exempted property) which is necessary for the life of the bankruptcy applicant, and other assets will be disposed of to pay off the debts, so that the debtor will really become "nothing". Someone asked, can the only house be left as a necessary property for life and can't sleep on the street? I definitely can't stay in the house. I can keep some rent at most.

The third is the inspection-free period. How long will this "nothing" life last? In the past three years, the bankrupt's income distribution, consumption, professional qualifications and many other behaviors have been restricted.

In terms of income distribution, professional managers are responsible for reviewing the annual personal income, expenditure and property reports submitted by the bankrupt, and taking over and distributing the newly added or newly discovered bankrupt property according to the property distribution plan. Therefore, even if you have money in these three years, you should give priority to paying your debts.

In terms of consumption, the administrator is responsible for supervising the bankrupt's consumption behavior during the inspection exemption period, and basically controlling unnecessary consumption behaviors such as tourism, high consumption, children's education and tourism. , just like the current Lao Lai. A little better than Lao Lai, the bullet train can also take economy class and second class seats.

In terms of professional qualifications, many occupations may be restricted.

Finally, if violations are found, the exemption period may be extended.

The fourth is the supervision of stakeholders. If the above steps can survive, the bankrupt can apply to the court for exemption from the remaining debts. so this is it？ It's too simple to remember. In the future, as long as "creditors or other interested parties find that the bankrupt has exempted the remaining debts by fraudulent means, they may apply to the people's court for cancellation of the exemption order." All the previous efforts were in vain, and every penny should be paid back.

In addition, the part of the bankrupt suspected of committing a crime may also be investigated for criminal responsibility.

Finally, if the parties have gone bankrupt and liquidated within eight years, they cannot be liquidated again. If we think about using the bankruptcy liquidation system again, people who evade debts can have a rest.

In short, the "personal bankruptcy system" on the one hand protects those "honest and unfortunate" and gives them a chance to redeem themselves. On the other hand, crack down on those who attempt to evade debts maliciously through "personal bankruptcy", so that their intentions will fail and they will bear corresponding responsibilities.