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What do you called a person who cannot pay off his debts?
Debtor, or now a days, dead beat..
What happens in Pennsylvania if you can't pay for your credit cards?
If you are unable to pay debts, depending on how much money is involved, you may have to declare bankruptcy or liquidate your assets to pay off debts
What is a person called who can't pay his debts?
A person who can't pay their debts is often referred to as an "insolvent" or "debtor." If their financial situation leads to legal proceedings, they may also be declared "bankrupt." This status indicates an inability to meet financial obligations and may involve a restructuring of debts or liquidation of assets.
A person's ability to pay off debts based on the money that person has available to meet financial obligations is called what?
D. Capacity
What is the basic meaning of bankrupt?
A trader who secretes himself, or does certain other acts tending to defraud his creditors., A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person., A person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities., Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant., Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury., Relating to bankrupts and bankruptcy., Destitute of, or wholly wanting (something once possessed, or something one should possess)., To make bankrupt; to bring financial ruin upon; to impoverish.
True or false The act of being declared legally unable to pay one's debts is called bankruptcy?
true
When a person a legal declaration of the inability to pay debts it is called?
mean test
Being unable to pay one's debts?
Bankrupt
What does insolvency mean?
1 unable to meet debts; bankrupt 2 insufficient to meet all debts; as estate or fund
What is the opposite of solvent?
The opposite of solvent is insolvent. Insolvent refers to a person or organization that is unable to pay debts owed.
What was the consequence for farmers during the dust bowl?
They were unable to pay their debts.
What is the meaning of bankrupt?
declared in law unable to pay outstanding debts.
The federal government was unable to pay its Revolutionary War debts because it could not?
The federal government was unable to pay its Revolutionary War debts because it did not have the power to levy taxes. The war was fought from 1775 to 1783.
What do you called a person who cannot pay off his debts?
Debtor, or now a days, dead beat..
What happens in Pennsylvania if you can't pay for your credit cards?
If you are unable to pay debts, depending on how much money is involved, you may have to declare bankruptcy or liquidate your assets to pay off debts
What does bankrupt mean in a sentence?
His business went to the dogs and he was declared bankrupt. He was unable to pay his debt and was declared bankrupt. His creditors got nothing as he was declared bankrupt.
What is a legal proceeding for distributing to creditors the assets of those unable to pay their debts?
Bankruptcy
