The bankruptcy also called suspension insolvency or default in English is pronounced "debt moratorim", refers to a legal situation in which a provider, family, company or corporation declared legally without having the ability of all the debts that you have with your creditors who are those who are authorized to demand the payment or fulfillment of an obligation contracted by two parties previously due to lack of liquidity or cash. The suspension of payment can reach an agreement between the debtor and the creditors who are under judicial suspension for the way in which they will cancel it.
The difference with bankruptcy is a legal situation in which a natural person, legal entity, company or institution cannot make the payments that must be made and it is found that in the part of the suspension the debtor has enough assets to face Your debts that are not liquid enough, for example you can have real estate or fixed assets for a higher amount than your debts, but in that case you will not be able to pay the debts that you have due at that time. That is why the suspension of payments is a temporary situation that in the bankruptcy part is decisive and is based on the temporary nature of the suspension.
To be able to declare in suspension of payments, it is necessary to justify the possibility of facing the payments in the future, otherwise they would find themselves in a bankruptcy process.
