Discharge In Bankruptcy

What Does Discharge In Bankruptcy Mean?
When a bankrupt person or company is legally free and clear of any obligation to repay certain debts.

Investopedia explains Discharge In Bankruptcy
In other words, the creditor no longer has any right to collect an outstanding debt from the person declaring bankruptcy.

Related Terms

Bankruptcy
Bankruptcy Trustee
Cancellation Of Debt - COD
Chapter 11
Chapter 13
Chapter 15
Charging Order
Nondischargeable Debt
Prepackaged Bankruptcy
Priming Loan
More Related Terms

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