Title:

Types of Debts Owed During Bankruptcy

Description:

There are a number of types of debts that a person might owe and during bankruptcy, discussing what debts will need to be paid and which can be discharged will be one of many conversations held with a Riverside CA bankruptcy attorney. Debt generally falls into a few different categories, the first of which is called priority debt and includes things like taxes that are owed and the fees that must be paid as a result of the bankruptcy itself. Another type of debt are secured debts which are those that have some sort of equity attached and must be repaid.