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What is a discharged debt?

What is a discharge in bankruptcy? A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are discharged.

What is a statement of financial affairs?

Statement of Financial Affairs. : a written statement filed by a debtor in bankruptcy that contains information regarding especially financial records, location of any accounts, prior bankruptcy, and recent or current debt. called also statement of affairs.