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    • Question : ___ is a legal declaration of a person who is unable to pay off debts. Option 1: Bankruptcy Option 2: Credit crunch Option 3: Amortisation ...
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    Question : ___ is a legal declaration of a person who is unable to pay off debts.

    Option 1: Bankruptcy

    Option 2: Credit crunch

    Option 3: Amortisation

    Option 4: Bancassurance

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    Team Careers360 23rd Jan, 2024
    Answer
    Answer (1)
    Team Careers360 24th Jan, 2024

    Correct Answer: Bankruptcy


    Solution : The answer is Bankruptcy.

    Bankruptcy is a legal declaration of a person who is unable to pay off debts. When someone files for bankruptcy, an automatic stay goes into effect. This legal order prohibits creditors from taking further action to collect debts.

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