Bankruptcy - Wikipedia Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor
Bankruptcy Explained: Types and How It Works - Investopedia Bankruptcy offers a legal path to debt relief, but that comes with lasting financial consequences, including credit damage and a potential loss of assets The type of bankruptcy you qualify for
Definition, History, Examples, Facts - Britannica Money bankruptcy, the status of a debtor who has been declared by judicial process to be unable to pay his debts Although sometimes used indiscriminately to mean insolvency, the terms have distinct legal significance Insolvency, as used in most legal systems, indicates the inability to meet debts
How Bankruptcy Works - HowStuffWorks Bankruptcy is a process that gives the filing debtor legal protection from creditors Learn about the different types of bankruptcy and bankruptcy alternatives
Bankrupting - definition of bankrupting by The Free Dictionary Define bankrupting bankrupting synonyms, bankrupting pronunciation, bankrupting translation, English dictionary definition of bankrupting n 1 Law A person, business, or organization legally declared insolvent because of inability to pay debts 2 A person who is totally lacking in a
BANKRUPT Definition Meaning - Merriam-Webster The meaning of BANKRUPT is a debtor (such as an individual or an organization) whose property is subject to voluntary or involuntary administration under the bankruptcy laws for the benefit of the debtor's creditors