Definition, Meaning & Synonyms
insolvent
Adjective
/ɪnˈsɒlvənt/
Definition
Insolvent refers to a state where an individual or organization is unable to pay their debts as they come due.
Examples
- The company was declared insolvent after failing to pay its creditors for several months.
- After losing her job, she soon became insolvent and had to seek financial assistance.
Meaning
Being insolvent means that the liabilities exceed the assets, or that there is not enough cash flow to cover current financial obligations.
Synonyms
- bankrupt
- in debt
- penniless
- broke
- financially troubled
