Sun 25 Sep, 2011 11:57 pm
Can I use the term bankruptcy when I am having zero balance in my savings account.
@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.
You can consult to the bankurptcy Experts and you can file a bankruptcy.
The bankruptcy can give and advice.
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