bankruptcy

{
  "id": "MLC-T-ONC-000908",
  "term": "bankruptcy",
  "field": "Oncology and biomedicine",
  "definition": "The situation that occurs when a person or business is not able to pay back debts. Filing for bankruptcy is a legal process that is handled by a U.S. federal court. This process can help people get rid of their debt or reduce their debt through a repayment plan. Certain events, such as job loss, divorce, a long illness, or hospitalization, can affect a person’s ability to pay bills and lead to debt and bankruptcy. Filing for bankruptcy helps people get a fresh start financially, but it also affects their ability to borrow money or have credit in the future.",
  "references": [
    "NCI Dictionary of Cancer Terms"
  ],
  "url": "https://mlchart.com/terminology/oncology/bankruptcy/"
}