To the question about bankruptcy of an individual entrepreneur

Currently, the institution of insolvency (bankruptcy) of individuals, including individual entrepreneurs, is a rather relevant and debatable topic, due to the fact that, unlike the bankruptcy of legal entities, it is multifaceted, insufficiently studied and requires theoretical understanding. The author comes to the conclusion that the role of organizations providing advisory and practical services in the field of registration of a person as an individual entrepreneur in order to cancel large financial debts is actively increasing at present. The author highlights the criteria for the insolvency of individual entrepreneurs. As a solution to these problems, the author proposes to use, as a matter of priority, the norms concerning individual entrepreneurs, and secondly, civil legislation regarding the bankruptcy of individuals and legal entities, and to develop a uniform approach in determining the period for losing the status of an individual entrepreneur.