Positive and negative sides of bankruptcy of individuals

The author in the article examines all the positive and negative consequences of the bankruptcy procedure for an individual. The author notes that the bankruptcy of individuals in Russia has become possible relatively recently. Until that time, only legal entities and entrepreneurs could become bankrupt. It is emphasized that in a fairly short period of time, the norms on bankruptcy of individuals have been introduced and developed in Russian legislation, and a citizen who does not even carry out entrepreneurial activity can be recognized. The article provides a detailed analysis of the essence of bankruptcy of individuals. Based on the conclusions, the author notes that every citizen who has a large debt and can no longer pay for it can competently approach the issue of bankruptcy and make the right choice.