Choose the correct one-word substitute for:
A person who is unable to pay their debts.
Show answer & explanation
Correct answer: B
Explanation
A bankrupt person is legally declared as being unable to repay their outstanding debts.
While 'insolvent' also means unable to meet one's debts, 'bankrupt' is the formal, legal term typically used in for individual. Hence ‘bankrupt’ is more appropriate in this context.
A 'debtor' is simply a person who owes money to another.
A 'pauper' is a very poor person.