Discharge of Debts in Bankruptcy

LIST Code: MO-13-05-00-00

LIST Code

MO-13-05-00-00

Title

Discharge of Debts in Bankruptcy

Definition

This category concerns the options and process of a bankruptcy discharge, when a court orders relieves a person from their obligation to pay a debt. This typically occurs at the end of a Chapter 7 or Chapter 13 bankruptcy hearing. Once a discharge happens, the creditor is prohibited from trying to collect the debt -- though they still may enforce liens attached to secured debts. Not all debts can be discharged in the different kinds of bankruptcy.

Other Taxonomy Terms

These terms in other taxonomies are equivalent to this term. They are mapped to each other.

  • NSMI v1 Taxonomy: 1010200
Last updated on Jul 01 2022

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