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Bankruptcy
BANKRUPTCY

Definition: The state of being bankrupt (= without enough money to pay what you owe).
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* All seven elements would be in.


1. Possesses nothing of value that can be sold. That is, person has no item that can be exchanged - no skill or talent, no assets, shares, bond certificates, investments, etc.
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NIL.


2. No recognition, reputation, standing or goodwill in the society or community.
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A 'NOBODY'.


3. No 'guaranteed' promise of a bailout, IOU, etc. (connect to #2 above the line).
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ZERO.


4. No reserve or saving or 'deposit' that is due to mature soon.
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NOTHING.



Quote: "The number one cause of bankruptcy is bad strategy". - Rich Horwath.
Below the Line
1. There has been a full disclosure, that is, state of finances and/or funds is the complete truth - nothing left out or 'forgotten'.
__________________

HONESTLY ...



Quote: "It turns out that a company can indeed look like the picture of health on the outside yet already be in decline". - Jim Collins, How the Mighty Fall..


further below the line


1. No debt write-off by creditor (where applicable).
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ZILCH !


2. No inheritance being hoped for or expected. No miracle or manna from anywhere (connect to #3).
__________________________

... hopeless; NOUGHT.



Quote: "It is safer to steal large sums with a pen than small sums with a gun". - Warren Buffet.

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