{"id":69249,"date":"2018-06-04T12:45:36","date_gmt":"2018-06-04T10:45:36","guid":{"rendered":"https:\/\/tcm.be\/glossarium\/debt-forgiveness\/"},"modified":"2026-01-14T23:15:16","modified_gmt":"2026-01-14T22:15:16","slug":"debt-forgiveness","status":"publish","type":"glossarium","link":"https:\/\/tcm.be\/en\/glossarium-en\/debt-forgiveness\/","title":{"rendered":"Debt forgiveness"},"content":{"rendered":"\n<p>The <strong>forgiveness<\/strong> <strong>of a debt<\/strong> is the <strong>voluntary<\/strong> abandonment by a <a href=\"https:\/\/tcm.be\/en\/creditor-definition\/\"><strong>creditor<\/strong><\/a> of their right to demand payment of the <a href=\"https:\/\/tcm.be\/en\/receivable\/\"><strong>receivable<\/strong><\/a> by the <a href=\"https:\/\/tcm.be\/en\/debtor-definition\/\"><strong>debtor<\/strong><\/a> .<br>By proposing <strong>the debt<\/strong> <strong>\u2019<\/strong> <strong>s forgiveness<\/strong> , the creditor releases the debtor from their repayment obligation. The <a href=\"https:\/\/tcm.be\/en\/debt\/\"><strong>debt<\/strong><\/a> may be written off either in whole or in part.<\/p>\n\n\n\n<p><strong>Debt forgiveness <\/strong>should not be confused with <strong>debt forgiveness<\/strong> with release, as the former requires the agreement of both parties, whereas release only requires the will of the <strong>creditor<\/strong>.<br><br>Updated 04\/06\/2018<\/p>\n\n\n\n<p>Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at\u00a0<a href=\"mailto:glossary@tcm.be\">glossary@tcm.be<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-69249","glossarium","type-glossarium","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium\/69249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/glossarium"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=69249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}