The Increasing Vulnerability of Older Americans: Evidence From the Bankruptcy Court
by DEBORAH THORNE, ELIZABETH WARREN, and TERESA A. SULLIVAN
Debt has become the common denominator of American life. From young people taking on student loans to older Americans struggling to pay for health care costs and prescription medications, anxiety over debt is now a constant companion. This year, more than a million families declared themselves unable to deal with their debts by filing for bankruptcy. Because bankruptcy is a public manifestation of the most extreme financial trouble, it offers one view of the economic health of Americans across the age spectrum.
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