Discharge (Of Debts) >> Back to glossary
When you are in financial trouble all of a sudden it's like you have to learn a whole new language. This is because you have creditors and collectors after you that start throwing a whole lot of ominous financial legal terms at you. One term that you will find favorable though is discharge of debts.
When you have been told that your financial situation is going to change and there will be a discharge of debts, it means that you are going to be debt free provided it is being applied to all your debts. It means that whoever you owe money to that is covered under the discharge can no longer come after you for monies owed. Although this sounds like a wonder phrase it must be viewed with caution. The term discharge of debts is most commonly used as it relates to bankruptcy. However, it can also be used when satisfactory terms have been reached through negotiations to settle a debt as well.
To really understand your finances you must understand the financial terminology that goes with it. When you fill out our request form here you will soon be talking with professionals who specialize in debt solutions, which focus on debt management and debt settlement. You will also here them use the term discharge of debts, because once you become their client then their mandate is to get you to the point where you will be awarded with a discharge of debt. The goal of our finance experts is to get you to a position in life where money, or the lack thereof, because of a heavy debt load is no longer a life issue.
