bankruptcy (n.) Look up bankruptcy at
1700, "the breaking up of a business due to its inability to pay obligations," from bankrupt, "probably on the analogy of insolvency, but with -t erroneously retained in spelling, instead of being merged in the suffix ...." [OED]. Figurative use from 1761. Earlier words for it (late 16c.-17c.) were bankrupting, bankruption, bankrupture, bankruptship.