A bankruptcy discharge is granted by the bankruptcy court in order to release the filer from certain debt responsibility. There are some types of debt that will not be discharged by filing bankruptcy. Once you receive the discharge documents, before you decide to apply for any new credit you should get a full accounting of all the debt you are still obligated to pay.
Bankruptcy Discharge Date
If you filed for bankruptcy, once the court sends you the discharge documents you may often be able to re-establish your credit. Many lenders will not approve you for credit until your bankruptcy has officially been discharged. If you have been denied credit by a lender, once your discharge has been ordered by the court you can then contact the lender again to see if they will now approve your application.
Debts Not Discharged
Depending on the type of bankruptcy that you filed, certain debts are not discharged. These can include taxes, student loans, and alimony or child support obligations. Check with your attorney to find out what debts you are still responsible for paying. Budget accordingly, in order to be able to make all payments in a timely manner.