Specific recognition insolvent (bankrupt) individuals according to the legislation of the Russian Federation
Institutions of consumer lending and bankruptcy of citizens in the early stages were formed and are now successfully operating in many countries, but the situation in the Russian Federation has developed differently, and therefore the functioning of the system of lending and bankruptcy of individuals for a long time did not receive proper development. The article defines that the bankruptcy procedure of an individual is quite common at the present time. Bankruptcy is a fairly effective way to protect the rights of citizens who find themselves in a difficult situation, experiencing temporary financial difficulties. We believe that the entry into force of the rules that fixed the procedure of bankruptcy of individuals, in General, is a positive measure for citizens and creditors in connection with the wide spread of credit obligations in Russia during the crisis economic situation, sanctions of Western States. The article analyzes the features of the procedures of insolvency (bankruptcy) of individuals in the Russian Federation.