bankruptcy
Debt relief proceeding
Bankruptcy is a legal status declaring that a person or organization cannot pay their debts.
The process, initiated either by the debtor or creditors, typically involves a court overseeing the orderly settlement of financial obligations—through liquidation of assets, restructuring of payments, or discharge of certain debts entirely.
Someone who has declared bankruptcy is called a bankrupt.
Figuratively, bankruptcy can describe any state of utter failure or depletion: moral bankruptcy, the intellectual bankruptcy of the movement.
Money owed another
- liabilitiesAmounts owed to others
- assetsOwned items of value
- defaultPreset standard option
- foreclosureLender seizes mortgaged property
arrears · deficit · liquidation · receivership · creditors · repayment · obligation · write-off
Formal written appeal
- filingStoring documents systematically
- dischargeRelease of substance outward
- trusteeOne managing another's assets
- courtTrial venue or sports surface
debtor · creditor · reorganization · adjudication · means test · attorney · judge · estate
Rearranging an existing framework
- turnaroundShift in opposite direction
- rehabilitationRecovery from injury/addiction
- reorganizationChanging how something's arranged
- emergenceComing into existence
fresh start · workout · comeback · revival · debt relief · repayment plan · confirmation · forbearance
Sudden structural failure
- ruinComplete destruction or collapse
- downfallSudden loss of power
- bustFailure or sculpture
- crashSudden violent impact
debacle · disaster · fiasco · folly · demise · undoing · wreck · spiral
Complete destruction or collapse
- destitutionExtreme poverty, lacking necessities
- lossBeing without something
- shamePainful awareness of failure
- stigmaMark of dishonor
stress · crisis · desperation · humiliation · struggle · setback · rock bottom · financial ruin
Competitive public sale
- sell-offRapid mass divestiture
- disposalAct of throwing away
- winding-upFormal business dissolution
- dissolutionBreaking up completely
divestiture · clearance · seizure · fire sale · closing · shuttering · disbandment · piecemeal
debt
Money owed another
- liabilitiesAmounts owed to others
- assetsOwned items of value
- defaultPreset standard option
foreclosure · arrears · deficit · liquidation · receivership · creditors · repayment · obligation · write-off · balance sheet
petition
Formal written appeal
- filingStoring documents systematically
- dischargeRelease of substance outward
- trusteeOne managing another's assets
court · debtor · creditor · reorganization · adjudication · means test · attorney · judge · estate · claim
restructuring
Rearranging an existing framework
- turnaroundShift in opposite direction
- rehabilitationRecovery from injury/addiction
- reorganizationChanging how something's arranged
emergence · fresh start · workout · comeback · revival · debt relief · repayment plan · confirmation · forbearance · refinancing
collapse
Sudden structural failure
crash · debacle · disaster · fiasco · folly · demise · undoing · wreck · spiral · freefall
ruin
Complete destruction or collapse
- destitutionExtreme poverty, lacking necessities
- lossBeing without something
- shamePainful awareness of failure
stigma · stress · crisis · desperation · humiliation · struggle · setback · rock bottom · financial ruin · starting over
auction
Competitive public sale
- sell-offRapid mass divestiture
- disposalAct of throwing away
- winding-upFormal business dissolution
dissolution · divestiture · clearance · seizure · fire sale · closing · shuttering · disbandment · piecemeal · going concern
- Business Failuresmismanagement, fraud, embezzlement, overexpansion, debt
- business troublescrisis, failure, layoffs, losses, decline
- Money Themeswealth, poverty, greed, gold, riches
- overdoing itoverdo, overreach, overwork, overspend, overexert
- finance termsnet profit, gross profit, budget, credit, debt
- credit risksdefault, late payments, bad debt, foreclosure, charge-off
bankruptcysolvency
Capacity to pay debts
financial health · creditworthiness · financial stability · wealth · prosperity
bankruptcyprofitability
Capacity to generate gain
success · prosperity · thriving · flourishing · going concern
- go bankruptBecome legally insolvent
- going bankruptLegally insolvent status
- gone bankruptLegally declared unable to pay debts
- went bankruptDeclared legally insolvent
- morally bankruptLacking all ethical principles
- goes bankruptBecomes legally insolvent
bankrupt, bankrupted, bankrupts, bankrupting, bankruptcies, go bankrupt, bankruptcy court