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The term for the inability to pay debts is "insolvency." Insolvency occurs when an individual or organization cannot meet their financial obligations as they come due, leading to potential bankruptcy proceedings. This situation can arise from various factors, including poor financial management or unexpected economic downturns.
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In budgeting What is the term for the inability to pay depth?
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.
What is the meaning of corporate insolvency?
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 inability of an individual or entity to pay its debts when they are due?
The inability of an individual or entity to pay its debts when they are due is referred to as insolvency. This financial state occurs when liabilities exceed assets, making it impossible to fulfill obligations to creditors. Insolvency can lead to bankruptcy proceedings, where a legal process is initiated to address the unpaid debts, potentially involving asset liquidation or restructuring. It is a critical situation that can have significant implications for both the debtor and creditors involved.
Who is responsible to pay back debts?
The government is responsible to pay all back debts.
Which term is defined as the inability to pay monthly mortgage payments in a timely manner or otherwise meet the mortgage terms?
default
In budgeting What is the term for the inability to pay depth?
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.
What is meant by the term insolvency?
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.
What is the meaning of corporate insolvency?
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.
When a person a legal declaration of the inability to pay debts it is called?
mean test
True or false In the past people were sent to debtors' prisons and penal colonies because of their inability to pay their debts?
true
What weakness did delagates at the constitutional convention see in the articles of confederation?
thew inability to raise funds to pay war debts
Why is it important for countries to show they can pay off their 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.
What is the number one reason why consumers default on 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!They do not have the money to pay back their debts!
The term bankrupcy specifically refers to?
Being unable to pay debts and honor monetary commitments.
Can you be arrested for a pay day loan for bank laws in NC?
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.
Is it better to immediately pay debts or to invest?
Pay off your debts!
What is a financial failure caused by a company's inability to repay its debts?
bankruptcy
