A bankruptcy discharge is a court order issued at the end of a Chapter 7 or Chapter 13 case that removes your personal liability for debts. A bankruptcy discharge is a court order issued at the end of a Chapter 7 or Chapter 13 case that removes your personal liability for debts.
https://www.thebalance.com/bankruptcy-discharge-what-is-it-and-when-does-it-happen-960064
One of the primary purposes of bankruptcy is to discharge certain debts to give an honest individual debtor a fresh start.. The debtor has no liability for discharged debts. In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. 11 U.S.C. § 727(a)(1).
http://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-7-bankruptcy-basics
Some debts cannot be discharged under Chapter 13 bankruptcy, including: 1  Child support and alimony. 2  Certain fines, penalties, and restitution resulting from criminal activity. 3  Certain taxes, including fraudulent income taxes, property taxes that became due within the past three years, and business taxes.
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In order to complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules, the debtor must provide the following information: 1  A list of all creditors and the amount and nature of their claims; 2  The source, amount, and frequency of the debtor's income; 3  A list of all of the debtor's property; and.
http://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-7-bankruptcy-basics
A bankruptcy discharge is a court order issued at the end of a Chapter 7 or Chapter 13 case that relieves you from your obligation to pay a debt. You must complete all the requirements for your bankruptcy case to receive a discharge. Once a debt has been discharged, the creditor is prohibited from taking collection action on that debt ever again.
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What can be discharged and the amount of the discharge will depend on whether you file Chapter 7 or Chapter 13 bankruptcy. In Chapter 7 bankruptcy, the trustee divides your nonexempt assets among your creditors and any remaining debt will be discharged.
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The Bankruptcy Code requires the trustee to ask the debtor questions at the meeting of creditors to ensure that the debtor is aware of the potential consequences of seeking a discharge in bankruptcy such as the effect on credit history, the ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt.
http://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-7-bankruptcy-basics
You can however, voluntarily, make payments on the debt to ensure that it's paid in full, especially if you received the benefit from the debt. Bankruptcy Discharge and Your Credit Report. Bankruptcy discharge does not impact the credit reporting time limit for bankruptcy, which is seven years from the date of filing for Chapter 13 bankruptcy and 10 years from the date of filing for Chapter 7 bankruptcy.
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Debts That Can't Be Discharged in Chapter 7 Bankruptcy. 1  Certain fines, penalties, and restitution resulting from criminal activity. 2  Certain taxes, including fraudulent income taxes, property taxes that became due within the past year, and business taxes. 3  Court costs. 4  Debts from a DUI.
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An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. A creditor may no longer initiate or continue any legal or other action against the debtor to collect a discharged debt. But not all of an individual's debts are discharged in chapter 7.
http://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-7-bankruptcy-basics
what does a discharge of a debt in bankruptcy mean?
A bankruptcy discharge is a court order issued at the end of a Chapter 7 or Chapter 13 case that relieves you from your obligation to pay a debt.