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You can save your house in a medical bankruptcy.
by selimthegrim 2y ago
You can save your house in a medical bankruptcy.
- howard941 2y agoThere's nothing in the Bankruptcy Code that treats medical debt differently from other unsecured debt. EDIT: I should clarify that it is nuanced. Medical debt is unlikely to draw unwanted scrutiny from the US Trustee/BR Administrator and of course it doesn't leave the debtor with any assets arising from the debt. Regarding house loss that is far more dependent upon the state you're in than the debt you have. For ex., homestead exemptions will protect the home from most unsecured debt. Further nuance is beyond HN's scope.
- Clubber 2y agoDepends on the state. Even if they can't take it directly, you still have to pay the mortgage, the property tax, the insurance, all the maintenance and upkeep with a new $200,000 bill and probably not having worked for a few months for recovery. I'm not sure how sustainable that is for regular people.