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bankruptcy = zero balance in ones account ?

 
 
Reply Sun 25 Sep, 2011 11:57 pm
Can I use the term bankruptcy when I am having zero balance in my savings account.
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Type: Question • Score: 1 • Views: 1,419 • Replies: 3
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roger
 
  2  
Reply Mon 26 Sep, 2011 12:03 am
@Jothi Lakshmi U,
No. Bankruptcy is a legal positioned by the court system. With a zero balance, you sound extremely illiquid. If your liabillities exceed your assets, you would also be insolvent.
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reginekelly
 
  -1  
Reply Tue 10 Sep, 2013 08:58 pm
@Jothi Lakshmi U,
Bankruptcy is the last resort only you know whether you go to this route. It doesn't mean you got zero balance account and you can file bankruptcy. Bankruptcy is for people or firms who are unable to pay out all their debts. Bankruptcy can be very useful in resolving financial problems.
lucymetcalfe
 
  1  
Reply Mon 8 Dec, 2014 08:29 am
@reginekelly,
You can consult to the bankurptcy Experts and you can file a bankruptcy.
The bankruptcy can give and advice.
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