in·sol·vent

[in-sol-vuhnt]
adjective
1.
not solvent; unable to satisfy creditors or discharge liabilities, either because liabilities exceed assets or because of inability to pay debts as they mature.
2.
pertaining to bankrupt persons or bankruptcy.
noun
3.
a person who is insolvent.

Origin:
1585–95; in-3 + solvent


1. penniless, destitute, impoverished, bankrupt.
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Based on the Random House Dictionary, © Random House, Inc. 2013.
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World English Dictionary
insolvent (ɪnˈsɒlvənt) [Click for IPA pronunciation guide]
 
adj
1.  (of a person, company, etc) having insufficient assets to meet debts and liabilities; bankrupt
2.  of or relating to bankrupts or bankruptcy
 
n
3.  a person who is insolvent; bankrupt
 
in'solvency
 
n

Collins English Dictionary - Complete & Unabridged 10th Edition
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00:10
Insolvent is a GRE word you need to know.
So is recumbent. Does it mean:
fond of the company of others; sociable.
lying down; reclining; leaning.
Etymonline
Word Origin & History

insolvent
1591, "unable to pay one's debts," from in- "not" + L. solventem "paying" (see solvent). Originally of one who was not a trader; only traders could become bankrupt.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Some thought that physical gold would be a lot safer than a deposit in an
  insolvent bank.
It also wants to make it easier to restructure the debt of countries that, in
  future, are deemed insolvent.
It is a ponzi scheme that is bankrupt and will be insolvent within a decade.
When inflation came down, it became clear that a number of them were insolvent.
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