According to experts, only one in ten people meet a $2500 annual deductible. This means most people on Bronze or Silver plans will end up paying for their generic Ursodiol 300 mg out of their own pocket.
Discharged Debt Definition. When your debt is discharged by a bankruptcy court, you are no longer legally required to repay the debt. When your debt as discharged, your creditors can no longer attempt to collect the money from you, either through legal action or by contacting you via phone, letters, in person or through collection agencies.
COD is short for âcancellation of debt.â When a debt you owe is canceled or discharged, in many cases the tax code treats the wiped out debt as cash income to you. If you owe $500,000 to the bank, but the bank forgives it, itâs as if the bank just handed you $500,000 and Uncle Sam wants his cut.