discharge in bankruptcy(redirected from Discharges 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.
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discharge in bankruptcyThe release of a debtor from the payment of any and all debts except those specifically approved by a bankruptcy court.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.