Bankruptcy rate on senior citizens are rising up

United States
August 3, 2009 3:34pm CST
From the statistics, the bankruptcy rate on senior citizens are rising up dramatically, ever since the economic crisis. Many of them might owe too much money from their credit card debt, or other debts, which they won't be able to pay off. This financial crisis really widespread to our older generation as a good lesson to learn for our younger generation. We should save money from now on, every penny must be counted. So, when you reach your retirement age, you won't be too much in fret about your financial situation.
1 person likes this
3 responses
@thea09 (18324)
• Greece
22 Aug 09
Really my dear I can see already you are beginning to take my advice and save your worrying for proper things like an impoverished old age rather than your weight problem. As I've advised you before dear you must find a nice young man with a large income to make sure that you will not have to worry about money. It really does make long term financial sense to marry for money dear and remember what I said about looking for one who works abroad in case he is very boring as well as rich.
@underdogtoo (9599)
• Philippines
4 Aug 09
It is a terrible thing when senior citizens end up being bankrupt. Something must be done about this.
@rosepedal64 (4192)
• United States
3 Aug 09
Oh I agree!!! The older generation has worked hard to get where they are now. In the long run they have nothing to show for their hard work. The government is making sure that they live like the younger generation. In my eyes that just doesn't seem right in no direction. Our older generation should be able to sit back and relax for the remaining of their life. Im kinda in the middle stage and I want to start a savings for my grandkids. If I don't then there won't be nothing for them at that time. Can you image what a loaf of bread will cost then.