This topic contains 11 replies, has 12 voices, and was last updated by  Aravind Kumar 6 years, 1 month ago.

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  • #35546
     kalaivaniG 
    Participant
    Rank: Level 4

    bankruptcy – inability to discharge all your debts as they come due; “the company had to declare bankruptcy”; “fraudulent loans led to the failure of many banks”

    #35557
     boutha priya 
    Participant
    Rank: Level 5

    Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

    #35610
     Hari priya 
    Participant
    Rank: Level 5

    It is a process in which consumers and businesses can eliminate or repay some or all of heir debts under the protection of the federal bankruptcy court.

    #35638
     Jayalakshmi. j 
    Participant
    Rank: Level 4

    bankruptcy legal process under which a borrower protects and or liquidates assets In order to repay

    #35642
     Nivedha Kannan 
    Participant
    Rank: Level 5

    A legal proceedings involved in a person or business because of the inability to pay the debts. The process begins with a petition filed by the debtor. Assets are used to repay the debts in most of the cases.

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