the bankruptcy court can discharge certain debts, but not all types of debt. Once a debt has been discharged, the creditor can no longer take action against the debtor, such as attempting to collect the debt
A bankruptcy discharge is a court order that releases a debtor from liability for certain types of debts and prohibits creditors from trying to collect them.
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medical bills, personal loans, and utility bills. However, certain obligations, such as child support, alimony, student loans, and some tax debts, may not be discharged. It is essential to consult with a bankruptcy attorney to understand which debts are eligible for discharge in your specific s...
bankruptcy - inability to discharge all your debts as they come due; "the company had to declare bankruptcy"; "fraudulent loans led to the failure of many banks" failure insolvency - the lack of financial resources 3. bankruptcy - a legal process intended to insure equality among the creditors...
Individuals often assume that filing bankruptcy will eliminate all their debts. Unfortunately, not all debts are dischargeable underChapter 7 bankruptcy. Most people, however, have debts that can be discharged under Chapter 7 however, individuals should be aware of debts that may not be discharged....
英[ˈbæŋkrʌptsi] 美[ˈbæŋkrʌptsi] 释义 n. 破产;彻底缺乏 词态变化 复数:bankruptcies; 实用场景例句 全部 破产 倒闭 The company filed forbankruptcy(= asked to be officially bankrupt ) in 2003. 这家公司于2003年提交了破产申请。
discharge对应 A. in bankruptcy, to issue an order of the court that all debts (with certain statutory exceptions) are forgiven and need not be paid. B. to annul or cancel an act, particularly a statement, document or promise, as if it no longer existed. Thus, a person can revoke a ...
tax liabilities or other non-dischargeable debts. A Chapter 13 filing takes into account all of your obligations and payments – whether dischargeable or not. If you are able to get a payment plan confirmed and make your payments, you will be protected from collection enforcement tools like wa...
(Some tax debt, debt as a result of malice and divorce settlements are typicallynot eligible for discharge.) If you file for Chapter 13 bankruptcy, the court will typically discharge a portion of your debt while restructuring the rest to make it more affordable based on your budget. In ...