The word bankruptcy comes from two old English words, "bankus" which means a tradesman's table and "ruptus" which means to break.
In old England, only traders could be made bankrupt and they were then subjected to punishments such as the stocks and "the clink" - the debtors' prison where day release was granted to allow debtors to work to pay off their debts.
The rules have changed somewhat since then and some may say bankruptcy is now too easy an option.
However, there is still much misinformation about what happens when you are made bankrupt and a lot of rumour that has almost become modern myth.
Anyone who owes more than £750 can technically be made bankrupt.
Read the full article http://news.bbc.co.uk/1/hi/business/8570467.stm
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