Discharge of Debt

Discharge of debt refers to the process by which a debtor is relieved from the obligation to repay certain debts, typically through bankruptcy or a legal settlement. When a debt is discharged, the debtor is no longer liable for that amount, and creditors cannot pursue payment. This can provide a fresh start for individuals or businesses facing financial difficulties. However, not all debts can be discharged—certain obligations like student loans, child support, and taxes often remain due. The process involves legal proceedings and varies based on jurisdiction and the type of debt involved.