Problems of formation of the Russian legal institute of bankruptcy of physical persons

This article analyzes the bankruptcy procedure for physical persons in Russia. The grounds for initiating bankruptcy proceedings are considered, as well as the legal consequences of declaring the debtor bankrupt. The main problems of the institution of bankruptcy are identified, in particular, the high cost of the procedure, difficulties in separating the property in common joint ownership for its implementation within the framework of bankruptcy, and the main ways of solving them are proposed. The procedure of mediation is investigated from the point of view of the effectiveness of its use as a pre-trial method of settling relations between the debtor and the creditor.