Medical debt is one of the leading causes of bankruptcy, according to a study published online today in the journal Health Affairs. There are plenty of anecdotes of people who have used up their savings, borrowed from friends or filed for bankruptcy following a serious illness like cancer. Now researchers at the Fred Hutchinson Cancer Research Center in Seattle have documented exactly how great the risk of bankruptcy is for cancer patients.
The Seattle-based Tully’s Coffee company was sold at a bankruptcy auction Jan. 3. But a number of bidders and stakeholders are contesting that sale. Now US Bankruptcy Judge Karen Overstreet will review the deal.