Legislative Model and System Construction of Personal Bankruptcy Exemption in China

With the social and economic development of the country, the imbalance of the legal relationship between the debtor and the creditor has become more and more obvious. Personal bankruptcy system was born to solve the problem of "difficult to execute", and personal bankruptcy exemption system is the core of it. Social utility theory and debt forgiveness theory as a good theoretical basis for personal bankruptcy exemption system, China's personal bankruptcy exemption system legislation should be taken to permit the exemption of the legislative model. In the construction of the specific system, detailed provisions should be made on the scope of debts to be exempted.