[SeanDav]

I would imagine that this would be extremely risky, purely from the risk of collision with space junk, before looking at all the numerous other risks. To protect yourself from space junk collisions you pretty much need a small spaceship around you. Then you still have to face the problem of bleeding orbital velocity sufficiently that you can enter the atmosphere without burning to a crisp. Additionally you are accelerating towards the earth at 1g and that velocity would have to be neutralized as well.

Your "suit" will likely have to be nearly a spaceship and then really you are arguing on what point a suit becomes a spaceship.

[andyjohnson0]

Losing orbital velocity via friction with the atmosphere is the main problem. The ISS orbits the earth at 7.7km/s [1].

Using some kind of active braking system ("retro rockets") before hitting the atmosphere might help, but its hard to imagine it being portable. You'd need fuel, pumps, guidance and control systems to run it. As you say, your suit becomes a spaceship.

Edit: I'm not sure whether collision with orbiting junk would be a significant risk. Most of it is very small, and as far as I know the chances of being hit only really rise if you spend a lot of time in orbit.

[1] http://www.esa.int/esaHS/ESA7YL0VMOC_iss_0.html