- This topic is empty.
Viewing 1 post (of 1 total)
-
Posts
-
There are a couple of terms that could apply depending on the situation:
- Bankrupt: This is the most common term for someone who is legally unable to repay their debts. They may have their assets seized and sold to pay creditors [ insolvency definition ON Investopedia investopedia.com].
- Deadbeat: This is a more informal term for someone who habitually fails to meet their financial obligations, including loans [deadbeat definition ON Merriam-Webster merriam-webster.com].
It’s important to note that not everyone who doesn’t repay a loan is intentionally avoiding their debts. There could be legitimate reasons why someone can’t repay, such as job loss or illness.
Viewing 1 post (of 1 total)
- You must be logged in to reply to this topic.
