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Why More And More Senior Citizens Are Filing For Bankruptcy

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According to Business Insider, bankruptcy is crushing the retirement dreams for an increasing number of older Americans. Respondents in a study from the Consumer Bankruptcy Project cited a decline in income, too many healthcare costs, and too much debt as contributing factors to their bankruptcy. But rather than being a cure-all to financial ills, most people struggle to ever regain their financial footing. According to the study, the median wealth for over 65 bankruptcy filers is minus $17,390.

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