Bankruptcy and Senior Citizens

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Bankruptcy and Senior Citizens

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.

Alexander Hernandez, Esq.
Twitter- @mcatty_alex

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