Insolvent

/ɪnˈsɒlvənt/

Meaning & Definition

noun

The state of being unable to pay debts.

The firm went into insolvency, prompting a swift response from creditors.

A person or entity that is unable to pay debts.

The insolvents in the region have increased as economic conditions worsened.

adjective

Unable to pay debts as they come due; financially ruined.

The company was declared insolvent after failing to meet its financial obligations.

Having liabilities that exceed assets.

He found himself in an insolvent state after going through a series of bad investments.

Legally declared unable to pay one's debts.

After months of struggling with unpaid bills, she was forced to file for insolvency.

From Latin 'insolvens', from 'in-' meaning not + 'solvens' present participle of 'solvere' meaning to loosen, pay.

insolvent company

A company that cannot meet its financial obligations.

insolvent consumer

An individual who cannot pay back debts.

insolvent estate

An estate of a deceased person that has liabilities exceeding its assets.

bankruptcy

The legal status of a person or entity that cannot repay debts.

debtor

An individual or institution that owes money to another party.

creditor

A person or institution to whom money is owed.