Financial Hardship
/ˈfaɪnænʃl ˈhɑrdʃɪp/
Definitions
- (n.) A condition in which an individual or entity lacks sufficient financial resources to meet basic living or operational expenses, often relevant in legal contexts involving debt relief, contract obligations, or eligibility for assistance.
The court considered her claim of financial hardship before deciding to reduce the debt repayment.
Forms
- financial hardship
Related terms
See also
Commentary
The term is commonly used to justify modifications in contractual or legal obligations; precise definitions depend on statute or case law context.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.