Following up on a previous senior bankruptcy news item, we’ve found some additional (and helpful) more information about the state of older Americans and bankruptcy from the AARP. Many Americans are feeling the crunch with the slow down in the economy and increased costs. Americans age 55+ have experienced the sharpest percentage increase in bankruptcy filings of any group since 1991, accounting for nearly 22% of the total number of filings in 2007.
If your finances are stretched and you think that bankruptcy is your way out, think again. not to mention the fact that a bankruptcy has many repercussions you may not know about. Read the whole story (link below) to find what other choices you have and tips on how to protect yourself.
Read More: Avoiding Bankruptcy