http://financeglossary.edublogs.org Fri, 15 May 2009 14:28:02 +0000 http://wordpress.org/?v=2.8.2 en hourly 1 http://financeglossary.edublogs.org/2008/12/30/bankruptcy/ http://financeglossary.edublogs.org/2008/12/30/bankruptcy/#comments Tue, 30 Dec 2008 16:45:41 +0000 ukeconomics http://financeglossary.edublogs.org/?p=12 A legal process for individuals who are unable to pay their debts. All their assets pass to an official receiver for sale towards repaying their creditors. Once discharged, normally in 12 months, the person is relieved from paying the remaining debt.

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