The number of people filing for bankruptcy protection in retirement has soared in recent years — even before the recession.
In fact, people 65 and older are the fastest-growing segment of the population seeking bankruptcy protection, according to a recent study from the University of Michigan Law School.
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In recent times, personal bankruptcy has become more common with a myriad of reasons as to why this is including borrowing too much, failed businesses, bankruptcy before divorce and more. If you intent to file bankruptcy, it is best to know some bankruptcy information. These facts can help you to understand what happens when you claim to be bankrupt.
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Reader’s Digest, another UK icon has filed for bankruptcy, putting more than 100 jobs under threat.
The decision by the publisher of the renowned magazine comes after it failed to achieve the required support from the UK Pensions Regulator for a pension scheme funding deal.
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