What is bankruptcy?
A. making more money than you spend,
B. spending more money than you make,
C. not being able to repay your loans.
D. owing money and paying it back
2 answers
I think that it is D. Owing money and paying it back
I'm sorry, but your answer is incorrect. The correct answer is C. Not being able to repay your loans.
Bankruptcy is a legal process through which individuals or businesses who owe more money than they can repay may seek relief from some or all of their debts. When filing for bankruptcy, a court decides if someone is eligible for bankruptcy relief and what debts can be eliminated or reduced. It is not about owing money and paying it back, but rather the inability to repay debts.
Bankruptcy is a legal process through which individuals or businesses who owe more money than they can repay may seek relief from some or all of their debts. When filing for bankruptcy, a court decides if someone is eligible for bankruptcy relief and what debts can be eliminated or reduced. It is not about owing money and paying it back, but rather the inability to repay debts.
1 answer