Probe - Accounting, Auditing and Taxation

On the issue of “ excessive consumption “ in the conditions for personal bankruptcy

Jin Zheng

Deheng Law Offices Quanzhou Branch

DOI: https://doi.org/10.59429/paat.v6i4.8400

Keywords: Personal bankruptcy; Excessive consumption; Comparative study

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Abstract

The rapid rise of Chinese family’s debt has attracted wide attention, financial risk prevention issue has become the focus of the society. The Personal Insolvency Law system is helpful to solve this problem. However, during the progress of establishing Personal Insolvency Law system, preventing this system abuse has become a key topic for all concerned parties. This article focus on the “excessive consumption” concept in personal insolvency apply procedure, using the way of comparative research, citing the practice data of Taiwan and the United States, reference to the world bank’s report on personal insolvency and combined with the specific situation of our country, suggested that the “excessive consumption” must be restrictive interpenetrated and applied, as well as the examination period and specific amount should be set scientifically

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References

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