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Discharging Debts
The process of eliminating debts through various means, such as bankruptcy or fulfillment of payment terms.
Automatic Stay
A provision in bankruptcy law that halts actions by creditors to collect debts from a debtor who has declared bankruptcy, providing temporary relief.
Payment Plan
An agreement between a debtor and creditor that outlines how a debt will be paid off through scheduled installments over a period of time.
Order Of Relief
An order stating that bankruptcy proceedings can continue.
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