Discharge In Bankruptcy Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Discharge In Bankruptcy, written in plain English, along with examples of how it is used.
What is Discharge In Bankruptcy?
n. At the conclusion of the bankruptcy process, the order given by the bankruptcy judge which forgives the remaining debts that cannot be paid. Certain exceptions are not dischargeable, such as debts for fraudulent or illegal actions, alimony and child support and taxes, and remain owed. A bankruptcy discharge is bad news for unsecured creditors.