Common Credit Management Terms

  • Bankrupt
    A natural person or corporation who has made an assignment or against whom a bankruptcy order has been made; it also means the legal status of that person.

  • Bankruptcy
    The state of being bankrupt or the fact of becoming bankrupt.


This glossary is presented as a service to our members and the general public. Click on the highlighted letter above and it will take you to the alphabetical section for the term you are seeking. As a new service, we welcome your suggestions to expand our glossary. Think a term should be explained differently? If so, you are welcome to submit the term and its meaning for our consideration. However, you must not do so by violating copyright and other laws. Don't see the term you're looking for? Contact us at so we can help you.