Section 101(3) of the Bankruptcy Code defines an assisted person as “any person whose debts consist primarily of consumer debts and the value of whose nonexempt property is less than $175,750.” Under the Bankruptcy Code, the dollar amount will change from time to time.
The term “assisted person” comes into play when defining what a debt relief agency is. Section 101(12A) of the Bankruptcy Code states that a debt relief agency is “any person who provides any bankruptcy assistance to an assisted person in return for the payment of money or other valuable consideration, or who is a bankruptcy petition preparer under section 110.”