consumer bankruptcy

Definition of "consumer bankruptcy"
  1. The process of legally declaring an inability to pay off debts that are mainly personal or household expenses
How to use "consumer bankruptcy" in a sentence
  1. The couple had to consider consumer bankruptcy after accruing massive credit card debt.
  2. Consumer bankruptcy allows individuals to make a fresh start by eliminating substantial debt.
  3. Mounting student loans can sometimes lead to consumer bankruptcy.

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