Bankruptcy of individuals: problems of implementation, transformation and modern law enforcement practice

The article substantiates the relevance of considering the institution of bankruptcy (financial insolvency) in Russia in the light of the new economic and political reality. In retrospect, the history of the formation of the issue of bankruptcy of individuals in the legal field since the 2000s is considered. The key differences between the simplified bankruptcy procedure regulated by Federal Law № 289-FZ of 31.07.2020 from ordinary bankruptcy (Federal Law № 127-FZ of 26.10.2002 “On Insolvency (Bankruptcy)”) are shown. Based on the data of the Rosstat of the Russian Federation, an analysis of the dynamics of changes in the initiation of extrajudicial proceedings (the proportion of such proceedings) under the simplified bankruptcy procedure for the period 2020-2022 was carried out. The changes in the out-of-court bankruptcy procedure of individuals, which came into force on November 03, 2023, are analyzed. It is concluded that the procedure of simplified bankruptcy of citizens is certainly relevant in modern economic conditions, it is constantly being improved and is in sufficient demand by citizens. And the legislator is meeting debtors halfway, developing new, more effective mechanisms for their financial rehabilitation, while not forgetting to introduce certain restrictions.