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

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.

To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and reading my message.

Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to oneminuteeconomics@gmail.com, any and all support is greatly appreciated!

Oh and I’ve also started playing around with Patreon, my link is:

https://www.patreon.com/oneminuteeconomics

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:

Amazon - https://www.amazon.com/Wealth-Management-2-0-Financial-Professionals-ebook/dp/B01I1WA2BK

Barnes & Noble - http://www.barnesandnoble.com/w/wealth-management-20-andrei-polgar/1124435282?ean=2940153328942

iBooks (Apple) - https://itun.es/us/wYSveb.l

Kobo - https://store.kobobooks.com/en-us/ebook/wealth-management-2-0

My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below.

Amazon - https://www.amazon.com/Age-Anomaly-Spotting-Financial-Uncertainty-ebook/dp/B078SYL5YS

Barnes & Noble - https://www.barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970

iBooks (Apple) - https://itunes.apple.com/us/book/age-anomaly-spotting-financial-storms-in-sea-uncertainty/id1331704265

Kobo - https://www.kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty

Last but not least, if you’d like to follow me on social media, use one of the links below:

https://www.facebook.com/oneminuteeconomics

https://twitter.com/andreipolgar

https://ro.linkedin.com/in/andrei-polgar-9a11a561