What is the definition of a discharged bankruptcy?

Answer Although never good financial planning and generally advised against, you can eliminate or reduce debt by filing for bankruptcy. However, not following the bankruptcy laws can remove this option fo... Read More »

Top Q&A For: What is the definition of a discharged bankruptcy

What kind of debt can be discharged in bankruptcy?

There are advantages and disadvantages to both Chapter 7 and Chapter 13 bankruptcies. In general, Chapter 13 provides greater protection against creditors, but payments must be made. Chapter 7 allo... Read More »

What Is Discharged in Chapter 7 Bankruptcy in Texas?

Chapter 7 bankruptcy can be the antidote to an overwhelming debt burden. If the bankruptcy court accepts your petition, many of your debts will be "discharged"--wiped out of existence. However, the... Read More »

What is discharged under Chapter 11 bankruptcy?

Debts discharged during a bankruptcy proceeding no longer have to be paid. Chapter 11 bankruptcy was designed for businesses, but people with very large debts also might need to file under Chapter ... Read More »

What Does It Mean When a Bankruptcy Is Discharged?

Bankruptcies fall under federal jurisdiction in the United States. There are federal bankruptcy courts in every judicial district across the country. Federal law, the United States Bankruptcy Code,... Read More »