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One factor is the high cost of healthcare, which makes it more difficult for many Americans to pay their bills. In Chapter 7 bankruptcy proceedings, the phrase “non-exempt property” refers to a debtor’s estate property that does not qualify for a statutory exemption. portion of the debtor’s home’s equity.
Under title 11 of the United States Code (the “Bankruptcy Code”), a trustee appointed to a debtor’s estate may avoid transfers made within two years before the date of the filing if the debtor received less than reasonably equivalent value in exchange. [i] vi] The Debtor made tuition payments totaling approximately $54,000.
Rising healthcare costs are continually leaving thousands of Americans drowning in medical debt. Many Chapter 13 Debtors pay pennies on the dollar back to their unsecuredcreditors. In fact, medical debt is one of the most common types of debt reported on consumer credit reports.
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