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Discharge in Bankruptcy
(redirected from Bankruptcy discharge)

    Also found in: Legal, Wikipedia 0.41 sec.
Discharge in Bankruptcy
When a bankrupt person or company is legally free and clear of any obligation to repay certain debts.

Notes:
In other words, the creditor no longer has any right to collect your debt.


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? Mentioned in ? References in periodicals archive
 
BAP '05 Section 312(1) also extends the period that a debtor who has previously obtained a bankruptcy discharge must wait before being eligible to obtain another, from six years to eight.
Recognition of "debt modification income" following consumer ... by Nash, Claire Y. / The Tax Adviser
Before filing for bankruptcy, consumers are required to complete a pre-filing counseling session; and before receiving a bankruptcy discharge, debtors are required to complete "an instructional course concerning personal financial management.
Bankruptcy: What It's Like to File Now: MMI Provides Insight Into ... by Business Wire
Thus, if a guarantor wishes to make a claim against a principal debtor, he or she has to do so before a bankruptcy discharge.
Repayments of business debt after business ceases by Norman, John M. / The Tax Adviser
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