Posted on: 08th Jul, 2010 07:23 pm
Is a loan discharge associated with bankruptcy?
Hi curious!
Welcome to forums!
The concept of loan discharge is not solely associated with bankruptcy. However, it's true that in most cases, the loan is discharged when the borrower files for bankruptcy. But again, there has been instances where the lender has canceled the loan and discharged it. In order to get the loan discharged, the borrower will have to fulfill certain criteria as per the lender's requirement.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The concept of loan discharge is not solely associated with bankruptcy. However, it's true that in most cases, the loan is discharged when the borrower files for bankruptcy. But again, there has been instances where the lender has canceled the loan and discharged it. In order to get the loan discharged, the borrower will have to fulfill certain criteria as per the lender's requirement.
Feel free to ask if you've further queries.
Sussane