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Bankruptcy is a common but unexpected side effect of cancer

Getting diagnosed with cancer is a frightening experience. No matter your age, job, or financial situation, it's never an easy thing to cope with. For those with good medical insurance, the financial implications of cancer won't seem obvious at first.

However, given how the body reacts to chemotherapy and radiation treatments, you may end up missing a lot of work or even quitting your job. Each round of treatment can cost hundreds or thousands of dollars, which can quickly exceed your maximum coverage. There's also the potential for surgeries, which force you to miss work and are also expensive.

The sad truth is that people with cancer or those who are in remission after cancer treatment are more than twice as likely as the average American to need to file for bankruptcy. Roughly 30 percent of people with cancer need to go into debt to pay for their treatments and around 3 percent end up filing for bankruptcy as a result of their diagnosis.

If you are struggling with serious medical debt as a result of a cancer diagnosis, you are not alone. It is a tragically common situation. You should seek out the help of an experienced Pennsylvania bankruptcy attorney to discuss your options about your debt.

For-profit treatment centers want to be paid

Both your medical insurance provider and your health care providers want to turn a profit each year. That means your coverage for certain treatments could be denied or limited and the cost for treatments can be very high. That, in turn, will force you to seek alternative means of financing.

Personal loans or even home equity loans sometimes seem like a short-term solution, but in reality, you may not have the means to repay them. Eventually, creditors will start calling, and even hospitals can and will sell their debt to ruthless debt collectors who will harass you even while you're trying to recover.

No one asks for a cancer diagnosis, and no one wants to go into debt to beat their cancer. For some people, that's just what happens. If you have accumulated serious medical debt as the result of cancer treatments, you should explore all your options. You shouldn't have to live with the harassment and stress caused by debt collection. If you can't foresee repaying your medical debts, you may need to consider filing bankruptcy. An experienced bankruptcy attorney can help you determine if and what kind of bankruptcy is right for your situation.

The right attorney makes a difference during bankruptcy

Bankruptcy can be an emotional and stressful process. Retaining the services of the right attorney can make everything simpler and smoother. Don't wait until you feel like you can't answer your door or your phone. Talk to a Pennsylvania attorney who understands medical debt and bankruptcy today.

Source: Nov. 30, -0001

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