Growing Number Of Older Americans Filing For Bankruptcy.

August 5, 2018

The New York Times (8/5, Bernard) reports that “a rapidly growing share of older Americans” are filing for bankruptcy. The Times cites a study from the Consumer Bankruptcy Project which found that “the rate of people 65 and older filing for bankruptcy is three times what it was in 1991...and the same group accounts for a far greater share of all filers.” The study suggests the increase is a result of “a three-decade shift of financial risk from government and employers to individuals, who are bearing an ever-greater responsibility for their own financial well-being as the social safety net shrinks.”

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Last modified on 08/06/2018

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