bankruptcy filings
Formal debt surrenders
Bankruptcy filings are formal legal documents submitted to a court to initiate bankruptcy proceedings.
When individuals or businesses can't pay their debts, they file for bankruptcy to seek protection from creditors or to liquidate assets.
The phrase often refers to the rate or volume of such submissions: Bankruptcy filings spiked during the recession.
Different chapters of bankruptcy law (Chapter 7, Chapter 11, Chapter 13) govern different types of filings.
- insolvencyInability to pay debts
- creditorsThose owed payment
- debtMoney owed another
- means testEvaluation of financial eligibility
- liquidationSelling assets for cash
going broke · court · court order · assets · asset seizure · claims · restructuring · payment plan · credit counseling · debt relief · discharge · trustee · petition · foreclosure · default · liabilities · relief · protection
bankruptcy filingssolvency
Capacity to pay debts
financial health · profitability · financial stability · prosperity · creditworthiness
bankruptcy filingsout-of-court settlement
Resolution bypassing formal litigation
debt forgiveness · debt consolidation · payment plans · amicable settlement · handshake deal
bankruptcy filingsIPO
First public stock offering
initial public offering · startup funding · startup launch · articles of incorporation · business licensing
bankruptcy, filings, bankrupt, filing, file, filed, files, filer, filers