One who is unable to pay his debts

How to use word Insolvent in Sentences? Some Examples

There is a maximum sentence of 6 month for an insolvent.
Ravinder declared himself insolvent to save himself from the rath of his creditors.
Hundreds of country became insolvent due to recent recession in the America.

A person who knows everything	Omniscient
One who believes in God	Theist
One who speaks less	Reticent
A person who is above hundred years	Centenarian
One who loves mankind	Philanthropist
A speech delivered without any previous preparation	Extempore
One who knows many languages	Polyglot
One who is unable to pay his debts	Insolvent
One who eats too much	Glutton
One who looks on the bright side of things	Optimist
A list of books	Catalogue
One who is indifferent to pleasure or pain	Stoic
A handwriting that cannot be read	Illegible
One who believes in fate	Fatalist
People living at the same time	Contemporaries
One who looks on the dark side of things	Pessimist
A person difficult to please	Fastidious
A person who cannot read or write	Illiterate
A thing that is fit to be eaten	Edible
One who is present everywhere	Omnipresent
A book written by an unknown author	Anonymous
One who pretends to be what he is not	Hypocrite
A thing no longer in use	Obsolete
One who loves books	Bibliophile
One who hates mankind	Misanthrope