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.
1a : the quality or state of being resonantb (1) : a vibration of large amplitude in a mechanical or electrical system caused by a relatively small periodic stimulus of the same or nearly the same period as the natural vibration period of the system (2) : the state of adjustment that produces resonance in a mechanical or electrical system.