What Is Bankruptcy Discharge?

Next Video:
What Is a Bankruptcy Petition?....5

Bankruptcy discharge is the release of a debtor's personal liability for certain dischargeable debts, which are defined by the bankruptcy code. Learn more about dischargeable debts from a bankruptcy attorney with help from a certified civil mediator in this free video on bankruptcy and money management.

Part of the Video Series: Bankruptcy & Foreclosure
Promoted By Zergnet


Video Transcript

You've heard about bankruptcy and you think it may be in your best interest, but there are various terms that you're not exactly familiar with. One of those is bankruptcy discharge. Hello, I'm Robert Todd, and I'm here to answer the question: What is bankruptcy discharge? Well, in its simplest terms, it's the release of a debtor of the personal liability for certain dischargeable debts. The key is what is a dischargeable debt, and that's going to be defined by the bankruptcy code. And you're not going to get a specific answer that's going to tell you what is a dischargeable debt and what isn't without knowing something about the bankruptcy code. If you have any questions in this regard, we would strongly recommend that you employ the services of a bankruptcy attorney who can guide you through the bankruptcy code and tell you what are and what are not dischargeable debts. We can tell you that, generally, alimony, child support, or any type of support obligation arising out of a dissolution of marriage is not going to be a dischargeable debt. I'm Robert Todd, and thank you for watching.


Related Searches

Is DIY in your DNA? Become part of our maker community.
Submit Your Work!