When a person fails to settle with his creditors, he goes bankrupt.
Bankrupt means: A bankrupt person, business or company does not have enough assets to pay off its debts. The debtor seeks compensation through legal action to schedule repayments or settle debts. In some cases, the lender will have to hand over control of all assets to a court-appointed administrator.
Meanings of Bankrupt
(A person or organization) is legally unable to pay its debts.
Absolutely no standard or value.
A person who has been declared bankrupt by a court and whose assets have been sold in the interest of the lenders.
Bankruptcy (a person or organization)
Sentences of Bankrupt
Her father went bankrupt and her family had to sell their house
Your goal is morally bankrupt
However, we will provide more effective protection against a small minority of bankruptcy managers who abuse creditors and the public.
The strike almost bankrupted the union
Synonyms of Bankrupt
deprived of, empty of, break, impoverish, completely lacking in, bring to ruin, reduce to destitution, wipe out, cause to go bankrupt, cripple, bankrupted, destitute of, vacant of, make insolvent, denuded of, insolvent, without, reduce to penury, bring someone to their knees, bereft of, make bankrupt