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Definition of 'Debt Discharge'
The cancellation or forgiveness of a debt. Debt discharge results in taxable income to the debtor unless the forgiveness is a gift or bequest.
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Investopedia explains 'Debt Discharge'
When a debt is discharged by an institution, the debtor will usually receive a Form 1099-C that shows the amount of debt forgiven. The debtor must then report this as miscellaneous income on the 1040.
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Search results for 'Debt Discharge'
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http://www.investopedia.com/university/credit-debt-management/management6.asp
... is the mandatory requirement that debtors go through credit counseling and financial
management courses in order to qualify for bankruptcy and debt discharge. ...
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http://www.investopedia.com/articles/younginvestors/10/student-loan-bankruptcy.asp
... For example, if you have $150,000 worth of student loan debt on an annual salary
of $30,000, you'd be a better candidate to discharge credit card or other debts ...
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http://financialedge.investopedia.com/financial-edge/0110/Fend-Off-Foreclosure---With-Bankruptcy.aspx
... Chapter 7 bankruptcy allows you to "discharge" (or clear) all qualified debts -
such as unsecured credit card debt - within a short period of time. ...
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http://www.investopedia.com/articles/pf/10/federal-student-loans.asp
... GPO ACCESS, you can't have a 90-day delinquency on any debt or be within five years
of "a default determination, bankruptcy discharge, foreclosure, repossession ...
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http://www.investopedia.com/exam-guide/cfa-level-1/ethics-standards/standard-responsibilities-supervisors.asp
... 9.11 Accounting For Long-Term Liabilities; 9.12 Post-Retirement Obligations;
9.13 Effects Of Debt Issuance; 9.14 Implications Of Debt ...
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