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LSDefine

Simple English definitions for legal terms

discharge (of debts)

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A quick definition of discharge (of debts):

Discharge (of debts) is when someone who owes money (called a debtor) is no longer responsible for paying back their debts, and the person or company they owe money to (called a lender) can no longer try to collect the debt. This happens in a special court called a bankruptcy court, where the court decides if the debtor meets certain requirements to have their debts discharged. Sometimes, the lender and debtor agree to cancel the debt, and if the court agrees that this is valid, the debtor can ask for a discharge ruling to release them from future debts.

A more thorough explanation:

Definition: Discharge (of debts) is a legal process in bankruptcy court where a debtor is no longer responsible for paying their debts, and the lender is not allowed to try to collect the debt anymore. The court will issue a decision to discharge debts when the debtor meets the requirements under federal bankruptcy law or when the lender agrees to cancel the debt.

Example: If someone files for bankruptcy and meets the requirements under Chapter 7 or Chapter 11 of federal bankruptcy law, the court may issue a discharge ruling, which means the debtor is no longer responsible for paying their debts. Another example is when a lender agrees to cancel the remaining debt. For instance, if a debtor and a lender sign a "debt cancellation agreement" (DCA) that forgives the remaining loan balance under certain conditions, such as death or property theft, the lender would have to forgive the debt. In this case, the debtor can ask the court to issue a discharging ruling to release them from future debts.

The example illustrates how discharge of debts works in two different scenarios. In the first example, the debtor meets the requirements under federal bankruptcy law, and the court issues a discharge ruling. In the second example, the lender agrees to cancel the remaining debt, and the debtor can ask the court to issue a discharging ruling to release them from future debts.

discharge | discharge (of personal representative)

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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