Technical Bankruptcy

Things have gone badly for your pet store dedicated to domesticating beavers and selling them as lovable companions. They're cute and fun to play with, but they also chew up the furniture and build dams in the hallway.

You’ve reached a point where you’re out of money. You've defaulted on all your loans, and you haven’t paid the mortgage on your store in months. You meet all the qualifications for a bankruptcy filing. Except...you haven’t actually filed the papers yet. Your furry, bucked-toothed inventory keeps stealing your paperwork, then uses it as a kind of makeshift drywall for the chewed-up furniture dam getting built by your back door.

Despite this ongoing setback, you remain in technical bankruptcy. At this point, it is just a matter of filing the paperwork and getting the formal process going. But for all intents and purposes, you've already crossed the threshold.