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.
With more than $4 million in debt, Lil Kim has sought bankruptcy protection with a Chapter 13 bankruptcy.
A large portion of my bankruptcy clients file for bankruptcy due to medical bills.
A $210 million settlement has been reached and approved by the bankruptcy court for victims of sexual abuse by the Archdiocese.
Besides the checkered past for “Michael the Black Man,” now he is prohibited from filing for bankruptcy for five years according to the Court’s ruling.