09-16-2012 11:23 AM
Discharged is when the courts deem that you officially don't owe any creditors listed in you bk anymore monies. A bankruptcy is not complete until you recieve those papers.
09-16-2012 11:37 AM
The ten years you are referencing are reporting guidelines for the CRA's to report the bk. For ch13 filers the bk stays on 7 years from filing, and for ch7 it stays on for 10.
As for the discharge papers, again this depends on the type of bk you file. A ch7 gets the discharge papers after I think the 341 meeting...lets just say usually around 90 tp 120 days after you file the initial petition. For ch13 filers, you get the papers after you finish making your payments as agreed in your plan. So if your plan is for 60 months, then you won't get your discharge until those payments are completed...5 years plus.
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