개인회생절차의 현황과 문제점

From September 23, 2004, Individual Debtor Rehabilitation Act has enacted and it opened a door for the consumers to file a petition without any fears of defa-mation or stigma attached to straight bankruptcy. An individual debtor who has a steady source of income may propose five-year plan specifying amounts to be paid to each creditor from the debtor s disposable income. As of April 1, 2006, the Act on Rehabilitation and the Bankruptcy of Debtor consolidated the Individual Debtor Rehabilitation Act and other bankrutcy acts. But the so-called Consolidated Insolvency Act has some defects derived from the application of liq-uidation procedure to individual rehabilitation, though. First, the author explains the current situation of Seoul Central District Courtʼs rehabilitation procedure for the individual debtors, using the statistics about the asset, income of each debtor, monthly payment to creditors and failure rate of payment plan. In the theoretical aspect, this article discusses the concrete issues like the defi-nition of the estate in individual rehabilitation procedure comparing to the pool of assets, the annoying topics relating to the filing of a list of creditors by the debt-or and some problems from the Consolidated Insolvency Act s sections which ig-nore the difference between liquidation and reorganization procedure. Finally this article deals with the barrier or disadvantage to the filing of in-dividual rehabilitation procedure such as the collection from the gurantor, the foreclosure by the secured creditors, and so on.