Insolvency and bankruptcy
GANESH VERMA (8 Points)
03 December 2017
what is difference between insolvency and bankruptcy?
1 Replies
manoj
(student)
(5205 Points)
Replied 03 December 2017
insolvency is a financial state of being – one that is reached when you are unable to pay off your debts on time. Bankruptcy, on the other hand, is a legal process that serves the purpose of resolving the issue of insolvency.
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