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.