Medical Bankruptcy Fairness Act Would Help Protect Homeowners
Washington, DC – Yesterday, Congresswoman Carol Shea-Porter reintroduced the Medical Bankruptcy Fairness Act. This legislation would provide a safety net for individuals who are in a financial crisis due to a personal or family medical catastrophe. Roughly half of all bankruptcies in the United States originate from medical debt.
“An unexpected emergency or illness should not wipe out everything a family has,” said Congresswoman Carol Shea-Porter. “My legislation will help protect the homes of families who are struggling with catastrophic medical bills.”
The Medical Bankruptcy Fairness Act would protect $250,000 in the value of the medically distressed debtor's residence and protect a family caregiver from having their case dismissed or referred to Chapter 11 or 13.