Personal bankruptcy law allows, in certain jurisdictions, an individual to declare bankruptcy. Virtually every country with a modern legal system features some form of debt relief for individuals. Personal bankruptcy is distinguished from corporate bankruptcy.
Famous quotes containing the words personal and/or bankruptcy:
“He hadn’t known me fifteen minutes, and yet he was ... ready to talk ... I was still to learn that Munshin, like many people from the capital, could talk openly about his personal life while remaining a dream of espionage in his business operations.”
—Norman Mailer (b. 1923)
“A woman’s whole life is a history of the affections. The heart is her world: it is there her ambition strives for empire; it is there her avarice seeks for hidden treasures. She sends forth her sympathies on adventure; she embarks her whole soul on the traffic of affection; and if shipwrecked, her case is hopeless—for it is a bankruptcy of the heart.”
—Washington Irving (1783–1859)