Prevention of ill-advised debt elimination process of natural person and it's fuzzy (de)similarities in compromise set - case study for Czechia

Abstract

The complex views of insolvency proceedings are unique, poorly known, interdisciplinary, and multidimensional, even though there is a broad spectrum of different insolvency instruments. With a focus on natural persons regarding debt relief in the insolvency proceedings, the question arises whether it is possible to satisfy at least partially the creditor while maintaining the debtor's social and economic status. If so, is there a set of tools and their error rate or similarity of these possible instruments? For this purpose is chosen fuzzy multidimensional reasoning. The result can be a compromise set depending on the defined purpose functions without a detailed quantitative description. Measures such as creditor satisfaction and the socio-economic decline of the debtor, including other instruments used in the insolvency proceedings situation, are hard to quantify. The result of the study is a compromise set of tools that suit both parties involved.The complex views of insolvency proceedings are unique, poorly known, interdisciplinary, and multidimensional, even though there is a broad spectrum of different insolvency instruments. With a focus on natural persons regarding debt relief in the insolvency proceedings, the question arises whether it is possible to satisfy at least partially the creditor while maintaining the debtor's social and economic status. If so, is there a set of tools and their error rate or similarity of these possible instruments? For this purpose is chosen fuzzy multidimensional reasoning. The result can be a compromise set depending on the defined purpose functions without a detailed quantitative description. Measures such as creditor satisfaction and the socio-economic decline of the debtor, including other instruments used in the insolvency proceedings situation, are hard to quantify. The result of the study is a compromise set of tools that suit both parties involved.