Wonderful social responses to relevant questions from individual debtors - How to become bankrupt? Fresh news on politics, economics, business, and legislation regarding insolvency and bankruptcy in Russia. A primer on the Law on Bankruptcy for Individuals. It is essential to understand that bankruptcy can only be declared through consideration in the Arbitration Court, meaning that creditors or potential bankrupts themselves cannot officially declare it. All debts can only be written off and closed by a court decision. Not everyone can file for bankruptcy; only those who have a direct interest in the procedure can do so. These include:
