Retired, Broke, Bankrupt

The over-55 crowd is the mostly likely age group to declare bankruptcy, the AARP says.  This group is carrying mortgages, home equity loans and credit card balances.

According to an AARP study, over half of this group spends most of their income paying down debt.  A quarter of these folks pay over 75% of their income reducing debt.

About Jill Michaux

Jill Michaux is a Kansas bankruptcy attorney. She can be found on Google+. She and her partner, Mark Neis, are Topeka's only board certified consumer bankruptcy law specialists.