Magazine article Newsweek

This Week Online; Online Excerpt

Magazine article Newsweek

This Week Online; Online Excerpt

Article excerpt

Elizabeth Warren

NEWSWEEK: A year after Congress passed the new bankruptcy law, many bankruptcies now being filed result from medical debt. So the stereotype of debtors with big-screen TVs is false?

Harvard law professor: It's right up there with the welfare mom who drives a Cadillac. A great story, but not true. If that were the problem, then the solution would be obvious: don't buy so many Game Boys and $200 sneakers. Ninety percent of the families who file for bankruptcy do so following a job loss, a medical problem or a family torn apart by death or divorce. More than half of the families who file for bankruptcy do so in the aftermath of a serious medical problem. It's expensive to get sick in America today--too expensive for the average family.

Read our series on consumer debt, United We Owe, at xtra.NEWSWEEK.com on MSNBC

Highlights

In our arts section, watch video highlights from the upcoming movie and television seasons. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.