Bankruptcies Rise Fastest for Over-55 Group
Older Americans Feeling Effects of Inadequate Savings
By Kathleen DayWashington Post Staff Writer
Friday, April 27, 2007; Page D03
Personal bankruptcy filings by people 55 and older are growing faster than those by any other age group, in part because of rising mortgage debt and medical expenses among seniors, a study published yesterday concludes...
...The government researchers compared personal bankruptcy records from 1994 with those in 2002. In that time span, personal filings doubled, to more than 1.5 million. The credit industry used that growth to persuade Congress to pass legislation in 2005 that makes it harder for individuals to wipe out debt through bankruptcy...
No comments:
Post a Comment