What does it mean to have a bankruptcy discharge?

Having a bankruptcy discharge means that the Bankruptcy Court has released you from all the debts that can be eliminated through bankruptcy. This includes debts that were payable at the time of filing as well as those that were not. Essentially, it is a legal way to free yourself from the burden of certain debts. Once you receive a bankruptcy discharge, you are protected by a permanent injunction, meaning creditors are prohibited from taking any collection action on debts that were discharged. This is the ultimate goal for someone who files for bankruptcy protection. If you want to learn more about managing your credit and improving your financial situation, consider joining the Credit Secrets program.