Bankruptcies for people 65 and up is on the rise, making up roughly 8 percent of all bankruptcy filers - an increase over previous years. A few factors likely contribute to the fact that older Americans are turning to bankruptcy for debt relief. For one, the recession of 2008 hit the demographic hard. Many Americans who were poised to retire were instead looking at their savings to make ends meet or trying to return to the workforce to weather the unanticipated financial hit, sometimes … [Read more...]
Archives for November 2017
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Rebuilding Credit After Bankruptcy
If you have visited any of the credit reporting agencies' websites following bankruptcy, you may have seen a warning stating that, "Having a bankruptcy in your credit history will seriously affect your ability to obtain credit for as long as it remains on your report." Of course, in real terms this means that filers may have trouble qualifying for a loan, an apartment, utilities, or even employment. This leaves many wondering, “Just how long will a bankruptcy affect my credit so I can get on … [Read more...]
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