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The real non mortgage expenses of home ownership are nothing like the means test allowances provided. Bankruptcy lawyers need to rise to the challenge of aligning the means test with today’s economic and legal realities. The success of bankruptcy cases may turn on it. What the means test allows The means test provision for non-rent/mortgage […]
Medical debt is a major reason that people file bankruptcy. The Consumer Financial Protection Bureau indicates that $88 billion of outstanding medical bills are currently in collections-affecting one in five Americans. According to U.S. News & World Report, many people don’t get the medical care they need because they are afraid of incurring medical debt they cannot pay. Filing for bankruptcy can be an effective way to get rid of your medical bills.
Medical Bills are Unsecured Debt
Gordian Group Partners, Peter S. Kaufman, David Herman, and Liam Ahearn are guests on Fried Frank's Financial Restructuring Webinar. Topic: Maximizing value for old equity, including private equity, in financial restructurings