Advantages and disadvantages of individual bankruptcy application
 （1） Benefits of individual bankruptcy application
 1. Protect families and individuals.
 The establishment of the personal bankruptcy system can exempt certain debts of individuals in serious financial difficulties through personal bankruptcy procedures, so that they can re realize normal production and life through efforts. In this sense, the personal bankruptcy system can actually play a considerable protective role for individuals or families in serious financial difficulties.
 2. Protect the performance of "debt".
 As the applicable object of personal bankruptcy law, individual debtors can be specifically divided into natural person individuals or consumer individuals who are in debt; The partnership and its partners; Sole proprietorship enterprises and their investors; Other profit-making organizations established according to law and natural persons engaged in industrial and commercial activities. These types of individual debtors account for a large number in China's market economy practice.
 （2） Disadvantages of individual bankruptcy application
 1. The financial system cannot adapt to the personal bankruptcy system.
 2. Personal consumption mode and personal credit tradition.
 Legal basis
 Article 20 of the Enterprise Bankruptcy Law of the People's Republic of China, after the people's court accepts the bankruptcy application, the civil litigation or arbitration concerning the debtor that has begun but not yet ended shall be suspended; After the administrator takes over the debtor's property, the litigation or arbitration shall continue.
 Article 32 of the Enterprise Bankruptcy Law of the People's Republic of China Within six months before the people's court accepts the bankruptcy application, if the debtor has the circumstances specified in Paragraph 1 of Article 2 of this Law and still pays off individual creditors, the administrator has the right to request the people's court to revoke it. However, this does not apply to the benefit of the debtor's property due to individual repayment.