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What does the term ‘bankruptcy’ mean? - Limited/Bad/Fair Credit Questions

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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » What does the term ‘bankruptcy’ mean?

What does the term ‘bankruptcy’ mean?

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The term ‘bankruptcy’ refers an individual or an organization that publically announces its inability to repay the amount given by banks or other investors. This term can be further branched into two wide categories namely: involuntary bankruptcy and voluntary bankruptcy.

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Surge Mastercard®
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