In most cases, you can get rid of credit card debt in Chapter 7 bankruptcy. Learn what happens to your credit card debt in Chapter 13 bankruptcy. If you take out a cash advance prior to bankruptcy, you might not be able to discharge the debt. Learn more.
A novation is a trilateral agreement by which an existing contract is extinguished and a new contract brought into being in its place. Indeed, for an agreement to effect a valid novation the appropriate consideration is the discharge of the original debt in return for a promise to perform some obligation.
nova. n, pl-vae (-viË) or-vas. 1. (Astronomy) a variable star that undergoes a cataclysmic eruption, observed as a sudden large increase in brightness with a subsequent decline over months or years; it is a close binary system with one component a white dwarf.ova-a star that ejects some of its material in the form of a cloud and become more luminous in the process. star - (astronomy) a celestial body of hot gases that radiates energy derived from thermonuclear reactions in the interior.