Difference between revisions of "Technical Bankruptcy"
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| − | '''Technical Bankruptcy''' is defined as the "state of a borrower defaulting on one or more financial obligations, who is not officially bankrupt." This state occurs when the borrower is out of funds, but has not sought bankruptcy protection, and none of the creditors has made a claim for repayment through the court system.<ref>Definition: What is Technical Bankruptcy? [http://www.investorwords.com/12399/technical_bankruptcy.html Investor Words]</ref> | + | '''Technical Bankruptcy''' is defined as the "state of a borrower defaulting on one or more financial obligations, who is not officially bankrupt." This state occurs when the borrower is out of funds, but has not sought bankruptcy protection, and none of the creditors has made a claim for repayment through the court [[system]].<ref>Definition: What is Technical Bankruptcy? [http://www.investorwords.com/12399/technical_bankruptcy.html Investor Words]</ref> |
Revision as of 18:46, 6 February 2021
Technical Bankruptcy is defined as the "state of a borrower defaulting on one or more financial obligations, who is not officially bankrupt." This state occurs when the borrower is out of funds, but has not sought bankruptcy protection, and none of the creditors has made a claim for repayment through the court system.[1]
References
- ↑ Definition: What is Technical Bankruptcy? Investor Words