The act of clearing your slate of all of the females in your life. Halting communication and not seeing your women anymore. Like financial bankruptcy, you start fresh, with all new women.

Female Bankruptcy is usually deployed when you are sick of all of the women in your life and realize you need to start fresh with new and different women.
I am sick of all the girls I have been seeing, I declare Female Bankruptcy.
by The berboy February 29, 2012
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