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What is difference between bankruptcy and insolvency?

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The Birmingham bankruptcy lawyers at Greenway Bankruptcy Law, LLC explain the differences between bankruptcy and insolvency. read more

Simply speaking, insolvency is a financial state of being – one that is reached when you are unable to pay off your debts on time. Bankruptcy, on the other hand, is a legal process that serves the purpose of resolving the issue of insolvency. Insolvency. Insolvency is essentially the state of being that prompts one to file for bankruptcy. read more

Insolvency : Insolvency is essentially the state of being that prompts one to file for bankruptcy. An entity – a person, family, or company – becomes insolvent when it cannot pay its lenders back on time. In general, this occurs when the entity’s cash flow in falls below its cash flow out. read more

Insolvency and bankruptcy are two dread words for any person or business. These are often baffling for a common man as he fails to differentiate between the two. The two terms are often used interchangeably but there are differences between the two. read more

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