How are debts classified in bankruptcy
Debts are divided into two categories: dischargeable and non-dischargeable. Dischargeable debts are those that the debtor is no longer personally liable to pay after the bankruptcy proceedings are concluded. Non-dischargeable debts are those that are not canceled because of the bankruptcy proceeding. This means that you are still responsible for paying, whether you declare or do not declare bankruptcy.
How are debts classified in bankruptcy
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