discharge in bankruptcy
n.
The release of a bankrupt person from his or her debts.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


discharge in bankruptcy
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy

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


discharge in bankruptcy
n. The release of a debtor from his obligation to pay all or part of his debts, upon the adjudication of a bankruptcy court.

Webster's New World Law Dictionary. . 2000.

discharge in bankruptcy
n.
   an order given by the bankruptcy judge, at the conclusion of all legal steps in processing a bankrupt person's assets and debts, which forgives those remaining debts which cannot be paid, with certain exceptions. Debts for fraudulent or illegal actions, alimony and child support and taxes are not dischargeable and remain owed (but often not collectible if the bankrupt person has nothing). A discharge in bankruptcy is bad news for unsecured creditors.
   See also: bankruptcy

Law dictionary. . 2013.

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