Discharge in Bankruptcy
/dɪsˈtʃɑːrdʒ ɪn ˈbæŋkrəptsi/
Definitions
- (n.) A court order that releases a debtor from personal liability for certain debts, legally forgiving them after bankruptcy proceedings.
The debtor received a discharge in bankruptcy, relieving her from the obligation to pay several unsecured debts.
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Commentary
The discharge in bankruptcy is a fundamental concept that marks the conclusion of bankruptcy relief for the debtor, extinguishing personal liability on discharged debts but not necessarily removing liens or secured debt obligations.
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.