Credit card debt is often discharged by a special kind of discharge. What is it and how does it work? How is it different from a novation or mutual recession, or settlement? What do you think actually happens when this "special" discharge occurs in the larger economy (what is the larger impact of debt forgiveness)?

Answer rating: 100% (QA)

When it comes to credit card debt the term discharge typically refers to the process of eliminating or canceling the debtors legal obligation to repay the debt However it is important to note that cre... View the full answer