TABLE 1—
Reasons Cited as Contributors to Bankruptcy | (A) Very Much Agree, % | (B) Somewhat Agree, % | (A) + (B) Very Much or Somewhat Agree, % |
Medical-related reasons | |||
Medical expenses | 37.0 | 21.5 | 58.5 |
Medical problems causing work loss | 27.9 | 16.5 | 44.3 |
Either of above | 44.2 | 22.3 | 66.5 |
Change in family size such as birth or death | 13.7 | 7.9 | 21.6 |
Any of above | 50.1 | 21.4 | 71.5 |
Other reasons | |||
Income loss (including persons with medically related work loss) | 61.5 | 16.3 | 77.8 |
Unaffordable mortgage or foreclosure | 29.2 | 15.8 | 45.0 |
Spending/living beyond means | 17.2 | 27.2 | 44.4 |
Student loans | 14.3 | 11.1 | 25.4 |
Divorce/separation | 18.5 | 5.9 | 24.4 |
Tried to help friends/relatives | 12.7 | 15.7 | 28.4 |
Note. The sample size of the survey was n = 910.