Automatic Discharge: Canada Debt .ca defines Automatic Discharge

Bankruptcy Term Automatic Discharge

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Canada Debt has the definition to the bankruptcy and debt term Automatic Discharge. Finding answers to terms such as Automatic Discharge can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Automatic Discharge in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Automatic Discharge' is used as follows:

First-time bankrupts receive an automatic discharge nine months after they became bankrupt unless it is opposed by either a creditor, the trustee or the Superintendent of Bankruptcy.