Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor.

Bankruptcy is not the only legal status that an insolvent person or organisation may have, and the term bankruptcy is therefore not the same as insolvency. In some countries, including the United Kingdom, bankruptcy is limited to individuals, and other forms of insolvency proceedings, for example liquidation and administration, are applied to companies. In the United States the term bankruptcy is applied more broadly to formal insolvency proceedings.

Noun

chapter (plural chapters)

1. One of the main sections into which the text of a book is divided.
2. An administrative division of an organization, usually local to a specific area.
3. A sequence (of events), especially when presumed related and likely to continue.

   chapter of accidents

   • 1866, Wilkie Collins, Armadale, Book the Last, Chapter I,

     "You know that Mr. Armadale is alive," pursued the doctor, "and you know that he is coming back to England. Why do you continue to wear your widow's dress?"

     She answered him without an instant's hesitation, steadily going on with her work.

     "Because I am of a sanguine disposition, like you. I mean to trust to the chapter of accidents to the very last. Mr. Armadale may die yet, on his way home."

   • 1911, Bram Stoker, The Lair of the White Worm, Chapter 26,

     […] she determined to go on slowly towards Castra Regis, and trust to the chapter of accidents to pick up the trail again.

• chapter and verse
• to the end of the chapter

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• U.S. Trustee Program/Dept. of Justice
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  List of Credit Counseling and Debtor Education agencies approved by the U.S. Trustee's Office, bankruptcy statistics, articles, Chapter 7, 12, and 13 trustee locator.
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  An overview of consumer and business bankruptcy law
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  Consumer alert from the Federal Trade Commission, pointing out that some offers to consolidate or eliminate debts may involve bankruptcy.