Bankruptcy and Senior Citizens
August 12, 2018
The Consumer Bankruptcy Project has issued a new report on those sixty-five years of age and older and the increase of bankruptcy filings.
Per the Consumer Bankruptcy Project, there has a been an increase in the amount of seniors sixty-five and older filing for bankruptcy. In addition, per a New York Times article, seventy-five percent of Social Security income is being used to cover health care related expenses for those over the age of eighty-five.
With seniors living longer and outlasting their money, this problem will only get worse.