Bankruptcy: Bankruptcy is a legal status where an individual or business cannot repay their debts. It often occurs during a financial crisis when people lose their jobs or experience significant losses in income.
Stock Market Crash: A stock market crash happens when there is a sudden and dramatic drop in the prices of stocks traded on stock exchanges. It is often one of the key triggers for a financial crisis.
Foreclosure: Foreclosure refers to the process by which a lender takes possession of a property from someone who has failed to make mortgage payments. During a financial crisis, many homeowners may face foreclosure due to difficulties in paying off their loans.