Abstract: This article examines certain issues emerging in law enforcement practice due to implementation of relatively new for the Russian legislation procedure of personal bankruptcy. Analysis is conducted on the problem of payment for the bankruptcy procedure by a private entity and cases of inability to do so. The subject of this research is the norm the Federal Legislation of the Russian Federation, namely the Federal Law “On Insolvency (Bankruptcy)”.  In particular, the authors consider the statues of the law regulating the realization of insolvency procedure (bankruptcy) with regards to a private entity. The conclusion is made on the need for amending the current legislation on personal bankruptcy to ensure accessibility of such procedure to majority of citizens. The authors analyze the duration of court proceedings for cases of this category, which may often protract; as well as advocate for making corresponding changes.