Bankrupted

Part of speech: verb

Definitions

1. The condition in which a person or entity is entirely unable to settle debts, resulting in a formal legal process for debt relief
2. A scenario where financial ruin occurs, leading to declarations of inability to fulfill monetary commitments and subsequent legal proceedings
3. A state in which an individual or organization can no longer pay off debts, prompting a legal declaration of insolvency to address financial obligations

Etymology: The word is an inflected form, so it needs only a sentence or two of framing. "Bankrupted" is the past tense and past participle of "bankrupt," used when someone has been declared unable to pay their debts. The verb's root is the Italian "bancarotta," which literally means "broken bench." The bench was the moneylender's working table, and when a bank failed, its bench was physically broken, signalling that the lender could no longer trade.

Synonyms: insolvent, broke, ruined, financially ruined, destitute

Antonyms: solvent, wealthy, prosperous, affluent, rich