Bankrupting: meaning, definitions and examples
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bankrupting
[ˈbæŋkrʌptɪŋ ]
Definitions
financial
To make someone bankrupt by reducing their financial resources to zero or below.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| bankrupting |
This term is used when someone or something is causing another entity to go bankrupt. It's often used in discussions about actions leading to financial ruin.
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| ruin |
Ruin means to completely destroy or severely damage something. Although it can refer to finances, it’s a more general term that can apply to various aspects of life.
|
| impoverish |
Impoverish means to make someone very poor. It's used in contexts involving a significant and often gradual decline into poverty, often due to systemic issues.
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| bankruptcy |
This is used to describe the legal state or condition in which an individual or business can no longer repay their debts. It’s a formal process under law.
|
Examples of usage
- The economic crisis is bankrupting many small businesses.
- His gambling addiction is bankrupting his family.
figurative
To cause something to fail or collapse due to lack of resources or support.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| bankrupting |
Use it when referring to the action of causing someone or something to lose all their money and go out of business.
|
| collapse |
Use it to describe a situation where something fails suddenly and completely, often in a dramatic way. It's not limited to financial contexts.
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| fail |
Use this term when someone or something does not succeed in achieving a goal or cannot continue operating.
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| ruin |
Use it to indicate severe damage to someone’s finances or reputation, often impacting their life significantly. This term often carries a negative connotation.
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Examples of usage
- The constant criticism is bankrupting his confidence.
- The lack of investment is bankrupting the infrastructure.
Interesting Facts
Etymology
- The word originates from the Italian word 'banca rotta', meaning 'broken bank', indicating a bank was broken if it couldn't pay its debts.
- In the early 16th century, financial failure was often signaled by breaking a banker's table, representing the end of their business.
Legal Aspects
- Bankruptcy laws vary by country, but they generally provide a way for individuals and businesses to eliminate or repay debts under the protection of the bankruptcy court.
- There are different types of bankruptcy filings, such as Chapter 7 and Chapter 13 in the United States, which determine how debts are handled and assets managed.
Economic Impact
- Bankruptcies can lead to significant economic consequences, including job losses and reduced spending power in local communities.
- During economic downturns, the rate of bankrupting increases as businesses struggle to survive and individuals find it harder to pay off debts.
Cultural References
- Bankruptcy is a common theme in movies and literature, often illustrating the struggles of characters facing overwhelming financial challenges.
- Popular TV shows often depict characters declaring bankruptcy, humorously highlighting the stress and stigma associated with losing financial stability.
Psychological Factors
- The emotional toll of bankrupting can include stress, anxiety, and shame, as individuals process their financial failures and the impact on their lives.
- Research indicates that the fear of bankruptcy can lead individuals to avoid taking risks in business, impacting their potential income and innovation.
Translations
Translations of the word "bankrupting" in other languages:
🇵🇹 falência
🇮🇳 दिवालियापन
🇩🇪 Bankrott
🇮🇩 kebangkrutan
🇺🇦 банкрутство
🇵🇱 upadłość
🇯🇵 破産
🇫🇷 faillite
🇪🇸 quiebra
🇹🇷 iflas
🇰🇷 파산
🇸🇦 إفلاس
🇨🇿 úpadek
🇸🇰 úpadok
🇨🇳 破产
🇸🇮 stečaj
🇮🇸 gjaldþrot
🇰🇿 банкроттық
🇬🇪 გაკოტრება
🇦🇿 müflislik
🇲🇽 quiebra