ALERT

[NEED LEGAL HELP?] Call our 24/7 Helpline: 1-866-723-4855

Discharge

Definition - What does Discharge mean?

To discharge a bankruptcy means to end it. In order for a bankruptcy to be discharged, the terms of the bankruptcy must be met in full including any repayment to creditors as assigned by the Trustee. The time length for a discharge is dependent upon how much debt is incurred within the bankruptcy, the debtor's ability to make repayments, and the overall length of monthly repayments. Debtors may pay in advance of the monthly installment if they are so able and the discharge would be effected earlier than envisioned in the court process.

Justipedia explains Discharge

The formal declaration that a bankruptcy is over and that a debtor has completed the terms of the bankruptcy is referred to as discharge. It means that the bankruptcy process is complete.

This definition was written in the context of Bankruptcy

Connect with us

Justipedia on Linkedin
Justipedia on Linkedin
Tweat cdn.justipedia.com
"Justipedia" on Twitter


'@justipedia_com'
Sign up for Justipedia's Free Newsletter!

Find a Lawyer