Does anyone know what a bankrupcy discharge is?
Answer:
All wrong.everyone.
A discharge is the final step in the bankruptcy process, and it involves the court order that basically wipes your debts out. Once you receive your discharge you no longer have a legal obligation to pay your creditor.
I believe (no personal research or experience) that bankruptcy is a process.
First you apply,for which you have to pay like $1,000 or so (at least in Canada).
Then you have endure a waiting period, so that they can check into your affairs.
You have to list and sell all of your assets of any value.
A publc notice is made so any and all of your debtors can apply for a portion of the proceeds of the sale of your assets.
Then like 6 mnths to a year later a judge (I believe) will discharge your bankruptcy, making it official to you and all your debtors.
Good luck
It when the time is up..usually 10 years
That is the date that your bankruptcy is over you cannot add anything else to it. Final with the courts you could say you can go on the web and see copies of everyones bankruptcy's including your own is public record. That is the date that even lets lenders know that it is over and accepted by the courts.
It basically means that your bankruptcy went through, and is now finalized with the courts.
It's when the court have accepted your bankruptcy filing.
I don't know but you can find out at the site below.
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