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  #6  
Old 04-06-2008, 11:55 PM
hank_freid hank_freid is offline
Junior Member
 
Join Date: Mar 2008
Posts: 2
What is 'discharge'?

Hi,

Well, A "discharge" in bankruptcy means that you are legally free and clear of any obligation to repay certain debts; they are gone. The creditor no longer has any right to collect that debt. The debtor no longer has any obligation to repay it. The timing of the discharge varies, depending on the chapter under which you file. In a Chapter 7 bankruptcy, for example, you normally receive a discharge just a few months after the petition is filed. In a Chapter 13 bankruptcy, the discharge typically occurs when you have successfully finished the payments you agree to make under your plan.
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