More older people are forced to turn to bankruptcy courts for relief
December 2, 2010
Pittsburgh Post-Gazette - 'In our current hyperlow interest rate environment, the burden of carrying a set amount of debt is much less than in previous decades,' said Dr. Russell James, an associate professor of personal financial planning at Texas Tech University.
Forced to rely more heavily on credit cards and other forms of debt to make ends meet, many older Americans are drowning in a sea of bills they can't handle and living in fear that things will get worse.
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"In our current hyperlow interest rate environment, the burden of carrying a set amount of debt is much less than in previous decades," said Dr. Russell James, an associate professor of personal financial planning at Texas Tech University.