Discussion » Statements » Rosie's Corner » How much money does one have to owe before declaring BANKRUPTCY? Can a country declare bankruptcy? Is America on the verge of it?

How much money does one have to owe before declaring BANKRUPTCY? Can a country declare bankruptcy? Is America on the verge of it?

Posted - June 8, 2019

Responses


  • 35482
    It depends on your income and your debts. 

    I have not heard of a country filing.
      June 8, 2019 7:44 AM MDT
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  • 10872
    PG&E filed for bankruptcy and they have over a billion in cash and assets (even able to give out bonuses while being under bankruptcy).  So it doesn't seem to have much to do with actual holdings, rather the amount of inflow vs outflow (what is made vs what is owed).  
    Technically, a country could declare bankruptcy,although I don't know what good it would do or how thy would go about filing for it.  
      June 8, 2019 9:42 AM MDT
    1

  • 113301
    Wonder how much money the sb prez spent to take his family and friends and staff ON A VACATION to the UK and IRELAND? I'm gonna ask. Thank you for your helpful/informative reply Shuhak! :)
      June 8, 2019 10:26 AM MDT
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