Bankruptcy is a state of being bankrupt, or having no money to pay back debts that you owe.
The state of being actually or legally bankrupt.
Noun
a legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
Noun
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"
Noun
a state of complete lack of some abstract property; "spiritual bankruptcy"; "moral bankruptcy"; "intellectual bankruptcy"
n.
The state of being actually or legally bankrupt.
n.
The act or process of becoming a bankrupt.
n.
Complete loss; -- followed by of.
Bankruptcy
The state of being actually or legally bankrupt.
Usage Examples
His lack of education is more than compensated for by his keenly developed moral bankruptcy.
Disappointment is a sort of bankruptcy - the bankruptcy of a soul that expends too much in hope and expectation.
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Other Usage ExamplesTogether with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail.
Medical debts are the number-one cause of bankruptcy in America.
If we don't change, millions of American families are just one medical emergency, or one layoff, away from financial disaster and bankruptcy.
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