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Discharged
This term refers to the process by which an obligation or debt is formally nullified or released, such as when a bankruptcy court discharges a debtor's obligations.
Chapter 12
A section of the U.S. Bankruptcy Code providing for debt relief to family farmers and fishermen.
Family Farmer
A designation used in bankruptcy law for a farmer or fisherman with regular annual income that allows them to adjust debts under Chapter 12.
Debt Cap
A limit set on the amount of debt that an organization or government may incur.
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