Bankruptcy Discharge
/ˈbæŋkrəptsi dɪsˌtʃɑːrdʒ/
Definitions
- (n.) A court order that releases a debtor from personal liability for certain specified debts, effectively wiping them out.
After the bankruptcy discharge, she was no longer legally required to pay the discharged debts.
Forms
- bankruptcy discharge
- bankruptcy discharges
Related terms
See also
Commentary
A bankruptcy discharge primarily benefits the debtor by eliminating personal liability but does not necessarily remove liens or secured interests on property.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.