Study: Cancer patients more than twice as likely to go bankrupt

Posted on Sunday, May 26th, 2013 at 8:02 pm    

A study recently published showed that people diagnosed with cancer are more prone to go bankrupt compared with people who don’t have cancer.

According to the study published in the journal Health Affairs on May 15, people with cancer were more than 2.5 times likely to declare bankruptcy, a number that gets even higher for younger people diagnosed with cancer. Researchers found that younger cancer patients, mostly women, tended to file for bankruptcy more often. This is largely believed to be due to the fact that a cancer diagnosis is a sudden life event and younger people are more likely to have existing debts, less assets, and insufficient income to cover daily expenses.

Facing financial troubles and debt can stressful and overwhelming. Fortunately, however, there many different options available to help debtors, such as filing for bankruptcy. Our lawyers at the Bradford Law Office, PLLC, can help you evaluate your options when facing serious debt. Discuss your options by calling 919-758-8879 today.