Bankruptcy is a legal status for individuals or businesses that cannot repay their debts

https://lite.evernote.com/note/3df94139-57e5-14d3-32c7-63314c9b79d8

Bankruptcy is a legal status for individuals or businesses that cannot repay their debts. It offers a fresh start by restructuring debts or liquidating assets, providing relief from overwhelming financial burdens and protecting against creditors.