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Friday, April 27, 2007

Boomers and bankruptcy

Americans over the age of 55 are filing for bankruptcy at a faster rate than the general population as growing mortgage debt and higher health-care costs make them more vulnerable, a new study shows.

The trend of rising bankruptcies among older Americans is likely to continue for the foreseeable future, according to the study's authors, John Golmant and Tom Ulrich, researchers at the Administrative Office of the U.S. Courts.

"Baby Boomers Filing for Bankruptcy At a Higher Rate"
Sun Herald (Mississippi)

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