Seniors filing for bankrupty has more than doubled
Here's some disturbing news from a new report called Generations of Struggle from the AARP.
Researchers Deborah Thorne of Ohio University, Elizabeth Warren of Harvard Law School, and Teresa A. Sullivan of the University of Michigan say that the "rate of bankruptcy filings among those ages 65 and older has more than doubled since 1991, and the average age for filing bankruptcy has increased."
Other findings in the report include:
Americans age 55 or older have experienced the sharpest increase in bankruptcy filings.
Americans age 34 or younger have experienced the greatest decrease in bankruptcy filings.
The influence of Baby Boomers on bankruptcy filings has moderated substantially.
