66 East Main Street, 3rd Floor Little Falls, NJ 07424

BABY BOOMERS’ BANKRUPTCIES RISING – GOLDEN YEARS ARE TARNISHED.

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I came across the data below which is in line with what I have seen in my practice.   More and more older adults need to file bankruptcy. 

Some of the principal reasons, I see are:

  • Helping family members, children, parents, etc.
  • Co-signing student loans
  • Frequent refinancing their homes; never paying their houses off
  • Increased medical costs and bills
  • Eroding pensions
  • Buying cars on credit
  • Little if no savings for a rainy day
  • Poor budgeting and planning for future when their incomes will be lower

I am here to help those baby boomers who find themselves needing to examine if filing bankruptcy is best for them.