Article Image
News Link • Economy - Economics USA

Retired and broke: Why retirees are declaring bankruptcy

• Reuters
For more and more seniors, retirement doesn’t mean a debt-free life of leisure. An increasing number of Americans aged 65 and older are declaring bankruptcy, according to a recent study by John Pottow, professor of law at the University of Michigan Law School.

Those aged 65 and older represented seven percent of bankruptcy filers in 2007, a mind-boggling jump from 1991. They are the “fastest-growing age demographic,” according to Pottow’s study.

 

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


http://freedomsphoenix.thinkpenguin.com/