Bankrupt
This is an old revision of this page, as edited by Taj (talk | contribs) at 19:26, January 22, 2012. It may differ significantly from current revision.
A person or business is considered bankrupt when they are economically insolvent. This can happen when an individual owes more than they have or can reasonably expect to have to cover their personal debts, or in a business, when the liabilities exceed the assets and it is doubtful this condition will improve.