In most cases, you can get rid of credit card debt in Chapter 7 bankruptcy. Learn what happens to your credit card debt in Chapter 13 bankruptcy. If you take out a cash advance prior to bankruptcy, you might not be able to discharge the debt. Learn more.
A novation is a trilateral agreement by which an existing contract is extinguished and a new contract brought into being in its place. Indeed, for an agreement to effect a valid novation the appropriate consideration is the discharge of the original debt in return for a promise to perform some obligation.
(ËdÉkrÉªmÉnt) n. 1. the act of decreasing; diminution. 2. (Mathematics) maths a negative increment. 3. (General Physics) physics a measure of the damping of an oscillator, expressed by the ratio of the amplitude of a cycle to its amplitude after one period. 4. (General Physics) (of spectra) a sequence of related spectrum lines decaying in intensity, e.g. Balmer decay.