Insolvency vs. Default vs. Bankruptcy: Three Terms Defined, Explained and Compared in One Minute

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One Minute Economics
Published at : 23 Nov 2020
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A one minute video through which insolvency, default and bankruptcy have been defined, explained and compared.

Way too many people make the mistake of thinking that insolvency, default or bankruptcy are just three words which basically mean the same thing. That is definitely not the case.

As we're about to find out:

1) Insolvency is a state of being

2) A default is an event

3) A bankruptcy is a legal process

While there are definitely similarities between insolvency, default and bankruptcy, the terms are by no means interchangeable.

Please like, comment and subscribe if you've enjoyed this video.

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Interested in reading a good book?

My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below:

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