Frequently Asked Questions
- What Is A Bankruptcy Discharge?
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<p>A discharge is the process where a bankrupt is officially released from his debts.</p>
<p>A discharge will release the bankrupt of all debts owed at the date of bankruptcy except for:</p>
<ul> <li>Any secured debts, which the bankrupt and the secured creditor have mutually agreed to continue to honour despite the bankruptcy (usually vehicle loans or mortgages).</li> <li>Any debts contained in Section 178 of the Bankruptcy and Insolvency Act.</li> </ul>
<p>E. & O. E.</p>
DISCLAIMER
All of the information on this website is provided as general information to those seeking general answers to their questions.
This information should not be construed as professional advice.
Every insolvency situation is different and the outcome of each will very depending on its unique circumstances.
Do not rely on this information, or take any steps which are based upon this information without first seeking professional advice.
To obtain specific professional advice a questionnaire must be completed and a personal evaluation conducted by our Trustee.