What Does The Term Discharge Mean

I expect most people would use the term "release from bankruptcy", but the wording in the act is "discharge". When a person has completed all the requirements and duties set out in the Bankruptcy Act, they will receive a "Discharge from Bankruptcy". This releases them from all of the debts that they owed on the date that they filed, with very few exceptions. Generally, there are only two kinds of debts that survive a bankruptcy as follows: a) Secured debts on assets you keep - if you keep your home, you will obviously have to keep making any mortgage payments and/or if you keep a car that is financed you would have to continue to make any payments required to that lender etc. and b) a very specific list of debts set out in Section 178 of the Act survive (Alimony, Child Support, Debts incurred through fraud, Court Awarded Penalties, Student Loans). All other debts are released when the individual gets their discharge, including, but not limited to, credit cards, lines of credit, debts owing for income tax etc. Ian Schofield Trustee Regina, Saskatchewan