# bankruptcy

Pronunciation: US say "BANGK-rupt-see" /ˈbæŋk.ɹʌp(t).si/; say "BANG-krupt-see" UK /ˈbæŋ.kɹʌp(t).si/, AUS /ˈbæŋ.kɹɐp(t).si/

## Noun

1. A legally declared or recognized condition in which a person or organization is unable to pay its debts.
   - Simple: A legal state where a person or business cannot pay what they owe.
   - _The airline filed for bankruptcy after years of mounting losses._
   - _Personal bankruptcy can stay on a credit report for several years._

## Origin

Formed from "bankrupt" plus the suffix "-cy", it replaced the earlier word "bankruptship".

Source: DictionaryAI, https://dictionaryai.com/define/bankruptcy (written from Wiktionary data, CC BY-SA 4.0: https://creativecommons.org/licenses/by-sa/4.0/).