HOW ARE DEBTS CLASSIFIED IN BANKRUPTCY?
Debts are divided into two categories:
dischargeable and nondischargeable. Dischargeable
debts are those that the debtor is no longer
personally liable to pay after the bankruptcy
proceedings are concluded. Nondischargeable
debts are those that are not cancelled because
of the bankruptcy proceeding. This means that
you are still responsible for payment them.
|
