In budgeting, the term for the inability to pay debt is "insolvency." This occurs when an individual or organization cannot meet their financial obligations as they come due, resulting in an inability to pay off debts. Insolvency may lead to bankruptcy proceedings or other legal actions to address the outstanding liabilities.
The definition of corporate insolvency is the inability to pay debts. It occurs when the business or corporation does not have sufficient funds to pay off its debts.
The government is responsible to pay all back debts.
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In budgeting, the term for the inability to pay debt is "insolvency." This occurs when an individual or organization cannot meet their financial obligations as they come due, resulting in an inability to pay off debts. Insolvency may lead to bankruptcy proceedings or other legal actions to address the outstanding liabilities.
Insolvency is a term used to describe the inability for a business to pay its debts. When a business racks up more liabilities than assets (ie more debt than money) they are in insolvency. This usually results in bankruptcy.
The definition of corporate insolvency is the inability to pay debts. It occurs when the business or corporation does not have sufficient funds to pay off its debts.
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thew inability to raise funds to pay war debts
No country should be financially reliant on another. It shows a weakness and inability for a country to control its own finances. It also places undue burdens on its citizens - who pay for their country's debts by higher taxation.
They do not have the money to pay back their debts!They do not have the money to pay back their debts!They do not have the money to pay back their debts!They do not have the money to pay back their debts!
Being unable to pay debts and honor monetary commitments.
A person cannot be arrested for the inability to pay his or her debts. Non payment of debts is considered a civil matter not a criminal one. In rare cases circumstances can exist whereby criminal charges can be attached to non payment of debt matters.
Pay off your debts!
bankruptcy