Insolvency is a money word. It names the state of not having enough money to pay what you owe — bills, loans, wages. A shop, a company, or a person can fall into it.

InsolvencyInsolvency is a money word是一個跟錢有關的字。It names the state of not having enough money to pay what you owe它指的是沒有足夠的錢還清欠款的狀態——bills, loans, wages像是帳單、貸款、薪水。A shop, a company, or a person一間店、一家公司，或一個人can fall into it都可能陷入這種狀態。

Though actually, people often mix this up with bankruptcy. Insolvency is the money fact: you cannot pay. Bankruptcy is the legal step: a court is involved, and there are rules about what happens next. A company can be in insolvency before it is bankrupt, and sometimes it never goes through that court process at all.

Though actually不過其實，people often mix this up with bankruptcy大家常把這個字跟bankruptcy搞混。Insolvency is the money factInsolvency講的是錢的事實：you cannot pay你付不出來。Bankruptcy is the legal stepBankruptcy則是法律上的一個步驟：a court is involved會有法院介入，and there are rules about what happens next而且對接下來會怎樣有一套規定。A company can be in insolvency before it is bankrupt一家公司可以在還沒bankrupt之前就已經insolvency（無力清償），and sometimes it never goes through that court process at all而且有時候根本不會走上法院那個程序。

You will meet the word in news about businesses, and in law and finance. It is formal.

You will meet the word in news about businesses你會在跟企業有關的新聞裡碰到這個字，and in law and finance還有在法律和財經領域。It is formal這是個正式的字。

At the table, people just say they ran out of money, or they went bust.

At the table在餐桌上聊天，people just say they ran out of money大家就直接說錢花光了，or they went bust或說他們倒了。