Concept information
Preferred term
economics of consumer bankruptcy
Definition
- In many countries, individuals whose debts have become excessive have the right to file for consumer bankruptcy. Under certain circumstances, a court will partly discharge the person's debt. [Source: Encyclopedia of Law & Society: American and Global Perspectives; Consumer Bankruptcy, Economics Of]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/economics_of_consumer_bankruptcy
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