discharge of debts
In bankruptcy, the bankruptcy court's action, at the end of the case, to wipe out the debts of the person or business that filed for bankruptcy. Once a debt is discharged, the debtor no longer owes it, and the creditor may no longer take action to collect it.
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy
Category: Bankruptcy, Foreclosure & Debt → Debt & Collection Agencies

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • discharge of bankrupt — For bankrupts who do not qualify for the automatic discharge, the trustee is required within one year from the beginning of the bankruptcy to apply to the court for a hearing of the application for a discharge. The court official has several… …   Glossary of Bankruptcy

  • discharge of indebtedness — the satisfaction or elimination of the debts of the debtor by the bankruptcy court (Glossary of Common Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • discharge — An order from the Bankruptcy Court releasing the debtor from any and all dischargeable debts which arose prior to the petition date (SA Bankruptcy.com) The legal elimination of debt through a bankruptcy case. When a debt is discharged, it is no… …   Glossary of Bankruptcy

  • discharge — dis·charge 1 /dis chärj, dis ˌchärj/ vt 1: to release from an obligation: as a: to relieve of a duty under an instrument (as a contract or a negotiable instrument); also: to render (an instrument) no longer enforceable a formal instrument...may… …   Law dictionary

  • discharge — To release; liberate; annul; unburden; disincumber; dismiss. To extinguish an obligation (e.g. a person s liability on an instrument); terminate employment of person; release, as from prison, confinement or military service. Discharge is a… …   Black's law dictionary

  • discharge — To release; liberate; annul; unburden; disincumber; dismiss. To extinguish an obligation (e.g. a person s liability on an instrument); terminate employment of person; release, as from prison, confinement or military service. Discharge is a… …   Black's law dictionary

  • discharge — (1) The action of releasing a lien or the document in which the creditor relinquishes a lien. Also known as a satisfaction, a release, a reconveyance, or an extinguishment. However, release tends to be used in connection with both real and… …   Financial and business terms

  • discharge — 1. verb 1) after his third violation, Vance was discharged Syn: dismiss, eject, expel, throw out, give someone notice; release, let go, fire, terminate; Military cashier; informal sack, give someone the sack, boot out, give someone the boot, turf …   Thesaurus of popular words

  • discharge — noun / dɪstʃɑ:dʒ/ 1. a payment of debt ♦ in full discharge of a debt as full payment of a debt 2. ♦ in discharge of her duties as director while carrying out her duties as director ■ verb /dɪs tʃɑ:dʒ/ 1. ♦ to discharge a bankrupt to release… …   Dictionary of banking and finance

  • discharge in bankruptcy — /ˌdɪstʃɑ:dʒ ɪn bæŋkrʌptsi/, discharge of bankruptcy noun the legal process of being released from bankruptcy after paying your debts …   Dictionary of banking and finance

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