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Insolvency

oboloo Glossary

Insolvency

Insolvency

There are two types of insolvency: personal and corporate. Personal insolvency is when an individual is unable to repay their debts. This can be due to a number of reasons, such as job loss, illness, or divorce. Corporate insolvency is when a company is unable to repay its debts. This can be due to a number of reasons, such as poor sales, mismanagement, or bad investment decisions.

When someone is insolvent, they are said to be “insolvent.” This means that they are not able to pay their debts when they come due. If you are insolvent, you may be able to work with your creditors to negotiate a repayment plan. However, if you are unable to reach an agreement with your creditors, you may have to file for bankruptcy.

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