What is a bankruptcy discharge and the process involved?
A bankruptcy discharge is the last step in filing bankruptcy. When you are discharged from bankruptcy, you are going to be released from the legal obligation to repay the majority of the debts you had at the time you were declared bankrupt. Several types of debts are not forgiven such as alimony, support payments or court-imposed fines, penalties or restitution orders. Obtaining a discharge will require nine months or longer and is in full cooperation throughout the process with the Licensed Insolvency Trustee.
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