Legislative Concept and Path Selection of Personal Bankruptcy and Loss of Rights System

The system of personal bankruptcy and loss of rights is a key mechanism preserved in the personal bankruptcy system after being baptized by modern human rights thinking. In the legal framework of personal bankruptcy in China, this system plays an irreplaceable and important role. In the modern market economy system, the system of personal bankruptcy and loss of rights is complementary to protecting the rights of debtors and balancing the interests of creditors, demonstrating its legitimacy and necessity. It is urgent and important to build and improve this system. Specifically, a judgment formation model should be adopted to clarify the types of restrictions on lost rights and their duration, ensuring transparency and operability of the system. At the same time, establish a sound personal credit system and legal accountability mechanism, ensure the effective implementation of the system, and promote the fairness and efficiency of the process of losing power.