Cancer patients resort to selling possessions and loan sharks to make ends meet

New data from Macmillan Cancer Support shows that tens of thousands of people going through or recovering from cancer treatment in the UK (16%) have had to sell personal possessions or borrow money just to make ends meet.

The research also found that almost one in three (31%) are struggling to pay their basic living costs. In some of the most extreme cases, people with cancer are resorting to borrowing money from unlicensed lenders such as loan sharks, while others are at risk of potential eviction from their homes.

More than a third of cancer patients going through or recovering from cancer treatment (39%) have been buying or eating less food, and tens of thousands (22%) have been spending more time in bed to stay warm all of which could put their health, wellbeing or recovery from cancer at risk.

The data also found that one in five (19%) of all those with cancer in the UK — just over half a million people — said that they did not feel their financial situation was strong enough to ride out the current cost of living crisis, while for over a million people (41%), 2023 is going to be the ‘hardest year of their life so far’ when it comes to money worries.

The charity has also seen a 22% jump in calls about financial issues taken by its Support Line so far this year, with the number of calls answered by its financial guidance experts currently at their highest level since before the pandemic.

The rising costs for people living with cancer comes on top of the existing financial impact a cancer diagnosis can already bring. Previous research by Macmillan found that four in five people with cancer experience a financial impact, which for those affected reaches almost £900 a month on average in addition to their usual outgoings — the equivalent of an extra one-and-a-half mortgage payments each month.

Furthermore, many people are facing unacceptably long waits to receive the financial support they’re entitled to, with one in four (25%) of those with cancer on Personal Independence Payment (PIP) waiting more than 16 weeks to receive their first payment, leaving far too many people struggling and falling into debt.

Richard Pugh, Head of Partnerships at Macmillan Cancer Support, said “Every day we’re hearing from people living with cancer who are struggling to get by and pay for the very basics. It’s heart-breaking that people are now being left with no other choice than to sell their personal possessions or take out loans pushing them into debt.”

“We know that this is a very difficult time for many people and that it can be hard to make the first move in reaching out for support. It’s crucial that anyone who is feeling the pressure knows that we are here for them. We have specially trained teams on our Support Line who can offer confidential advice or simply provide a listening ear during this challenging time.”