discharge in bankruptcy

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Discharge in Bankruptcy

The act of a bankruptcy court forgiving the debt of the person or company that has filed for bankruptcy. A discharge in bankruptcy means that the creditors have received as much as they are going to receive and that they no longer have the right to attempt to collect on debts.

discharge in bankruptcy

The release of a debtor from the payment of any and all debts except those specifically approved by a bankruptcy court.
References in periodicals archive ?
It is vital to let those suffering from student loan problems, and those that care about them, know that bankruptcy discharges are possible in the right circumstance.
122) The bankruptcy discharge was often viewed as one essential element of modern bankruptcy law.
Eviction proceedings may continue with court approval or after the bankruptcy discharge.
The bankruptcy discharge offers debtors immediate relief from current debts but, to experience what people have heard of as a 'fresh start,' that may take longer than they expect or would like.
The video is a basic overview of a bankruptcy case, from what to consider before you file a bankruptcy to how to enforce the protection granted by a bankruptcy discharge.
Dawsey and Ausabel (2004) find a negative correlation between state garnishment restrictions and the total number of bankruptcy filings and suggest that since about half of all credit card charge offs occur without a bankruptcy discharge, garnishment can be viewed as a form of informal bankruptcy.
13 may survive the bankruptcy discharge, or result in the dismissal of the Ch.
Case law construing Bankruptcy Code section 707(b) has erected a barrier to the bankruptcy discharge unprecedented in United States bankruptcy history since voluntary liquidations were first allowed in the Bankruptcy Act of 1841.
As an objective measurement, I would propose defining a successful student of a debtor-education program as one who keeps his/her debt load within some reasonable range; and who is viewed as a good credit risk by a credit rating agency within 18 months of receiving the bankruptcy discharge.
The draft Bill includes another interesting feature -- a proposal that any civil judgment for damages for an assault would also survive a bankruptcy discharge.
In two recent cases, the courts have held that unsigned 6020 returns are not returns for purposes of bankruptcy discharge.
The earnings release and conference call are being postponed for approximately one week to allow the Company additional time to review the implementation of a recent industry-wide clarification issued by the Office of the Comptroller of the Currency ("OCC ") regarding mortgage and consumer loans subject to bankruptcy discharge.
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