Bankruptcy was a status whereby a person is formally declared unable to repay their debts.
In 2268, Spock pointed out that under the Nazis a bankrupt Germany soon rose to the point of almost achieving global domination. (TOS: "Patterns of Force")
In 2370, while reminiscing about his time on Terok Nor, Glinn Boheeka joked that the dabo girl Hartla would have bankrupted him had the Occupation of Bajor continued for longer than it had. (DS9: "The Wire")
The Tigan pergium mining business faced bankruptcy after several competing Pergium mines were opened. (DS9: "Prodigal Daughter")
In 2374, Brunt sneered at Grand Nagus Zek that he, Zek, was bankrupt. (DS9: "Profit and Lace")
In 2375, Zek told his successor Rom that a Nagus had to avoid the shoals of bankruptcy. (DS9: "The Dogs of War")