Definition from Nolo’s Plain-English Law Dictionary
In bankruptcy, the bankruptcy court's action, at the end of the case, to wipe out the debts of the person or business that filed for bankruptcy. Once a debt is discharged, the debtor no longer owes it, and the creditor may no longer take action to collect it.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:14 pm