Bsevarsity Blog — Bankruptcy

  Have you ever got confused between insolvency and bankruptcy? If this question is bothering you, then read the article ahead. A person can be insolvent without being bankrupt but cannot be bankrupt without being insolvent. An insolvent person or an organization is the one where he is not able to pay bills as and when they become due and payable. A bankrupt person or organization is one where is declared as incapable of paying their dues and payable bills. It is a smart idea to organize these enactments than to manage them under one umbrella. Hence, the Insolvency and...