Cancer Survivors More Likely to File for Bankruptcy

A surprising report released at the American Society of Clinical Oncology this week showed that within the five year period of being diagnosed with cancer, survivors are more likely to file for bankruptcy.

The report is based on data from 232,000 adult cancer survivors in western Washington over the past 14 years. When compared to the non-cancer-afflicted population, survivors were twice as likely to file for bankruptcy in the first year after their diagnosis. Cancer patients who were battling leukemia/lymphoma, thyroid and lung cancer were the most likely to file for bankruptcy. Those cancer patients over the age of 65 were found to be less likely to file for bankruptcy as they were covered by Medicare.

Since the economic downturn, even more cancer patients have been forced to file for bankruptcy.

Are you constantly in the red? If so, don't hesitate to contact a Chicago bankruptcy attorney to discuss your legal options.