dischargeable debt

dischargeable debt
dischargeable debt
a debt for which the bankruptcy code allows the debtor's personal liability to be eliminated (Glossary of Common Bankruptcy Terms)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

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  • non-dischargeable debt — a debt that cannot be eliminated in bankruptcy (Glossary of Common Bankruptcy Terms) A debt that is excluded from the Debtor s discharge on one or more of the grounds enumerated in the Bankruptcy Code. See 11 U.S.C. § 523 (SA Bankruptcy.com)… …   Glossary of Bankruptcy

  • debt — n [Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe] 1: something owed: as a: a specific sum of money or a performance due another esp. by agreement (as a loan… …   Law dictionary

  • dischargeable debts — Debts that can be wiped out in bankruptcy, such as credit card debts, medical bills, and back rent. Compare: nondischargeable debts Category: Bankruptcy, Foreclosure & Debt → Bankruptcy Nolo’s Plain English Law Dictionary. Gerald N. Hill,… …   Law dictionary

  • non dischargeable — A debt that cannot be eliminated in bankruptcy. Non dischargeable debts remain legally enforceable despite the bankruptcy discharge. The Code s list of non dischargeable debts is found at 11 U.S.C. 523. The scope of the discharge in Chapter 13… …   Glossary of Bankruptcy

  • nondischargeable debt — a debt that cannot be eliminated in bankruptcy (Glossary of Common Bankruptcy Terms) A debt that is excluded from the Debtor s discharge on one or more of the grounds enumerated in the Bankruptcy Code. See 11 U.S.C. § 523 (SA Bankruptcy.com)… …   Glossary of Bankruptcy

  • discharge — An order from the Bankruptcy Court releasing the debtor from any and all dischargeable debts which arose prior to the petition date (SA Bankruptcy.com) The legal elimination of debt through a bankruptcy case. When a debt is discharged, it is no… …   Glossary of Bankruptcy

  • reaffirmation agreement — An agreement by a chapter 7 debtor to continue paying a dischargeable debt after the bankruptcy, usually for the purpose of keeping collateral or mortgaged property that would otherwise be subject to repossession (SA Bankruptcy.com) A bankruptcy… …   Glossary of Bankruptcy

  • reaffirm — re·af·firm /ˌrē ə fərm/ vt 1: to affirm again 2: to agree to the payment of (a dischargeable debt) with a creditor prior to the discharge of debts in bankruptcy reaffirm ed her debt in order to keep her car re·af·fir·ma·tion / ˌa fər mā shən/ …   Law dictionary

  • reaffirmation agreement — USA A Chapter 7 debtor s agreement to continue paying a dischargeable debt after a bankruptcy. This usually happens to prevent repossession of collateral. Practical Law Dictionary. Glossary of UK, US and international legal terms.… …   Law dictionary

  • discharge — dischargeable, adj. discharger, n. v. /dis chahrj /; n. /dis chahrj, dis chahrj /, v., discharged, discharging, n. v.t. 1. to relieve of a charge or load; unload: to discharge a ship. 2. to remove or send forth: They discharged the cargo at New… …   Universalium

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