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Destitution vs Bankruptcy - What's the difference?

destitution | bankruptcy | Related terms |

Destitution is a related term of bankruptcy.


As nouns the difference between destitution and bankruptcy

is that destitution is (obsolete) the action of deserting or abandoning while bankruptcy is a legally declared or recognized condition of insolvency of a person or organization.

destitution

English

Noun

(en noun)
  • (obsolete) The action of deserting or abandoning.
  • Discharge from office; dismissal.
  • The condition of lacking something.
  • * 1906 , ‘Mark Twain’, in The Bible According to Mark Twain , 1996, p. 330:
    • He requires of his fellow man obedience to a very creditable code of morals, but he observes without shame or disapproval his God's utter destitution of morals.
  • An extreme state of poverty, in which a person is almost completely lacking in resources or means of support.
  • * 2009 , Rahila Gupta, The Guardian , 4 Aug 2009:
    • Destitution forces many asylum seekers to end up working for extremely low wages in catering, cleaning and construction, for example, without any protection against unscrupulous employers.

    Related terms

    * destitute

    bankruptcy

    English

    (wikipedia bankruptcy)

    Noun

    (bankruptcies)
  • A legally declared or recognized condition of insolvency of a person or organization.

    • Derived terms

    * (noun) pre-packaged bankruptcy * (verb) to file for bankruptcy, to go bankrupt

    Related terms

    * (noun) depression, economic downturn, financial crisis, insolvency, recession * (noun) (figuratively) moral bankruptcy * (adjective) bankrupt, insolvent * (adjective) (slang) broke, bust, belly up * (adjective) (figuratively) morally bankrupt * (verb) (slang) go broke, go bust, go belly up *