Soaring bankruptcy rates signal a ‘coming storm of broke elderly,’ study finds


Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a “coming storm of broke elderly,” a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.