Bankruptcy

The least thing any established person wants to happen to him or herself is to end up having nothing, as in zero at all.  With the aftershock from the global recession, a lot of companies ended up closing, and hundreds of thousands of workers from all over the world lost their jobs.  It’s not surprising that most of these people ended up declaring Bankruptcy.
Again, everybody really doesn’t want to declare that they are already bankrupt.  Bankruptcy is a state in which the person doesn’t have any asset anymore