May 22, 2012 · Bankruptcy Statistics. Most cases of bankruptcy aren’t caused by reckless spending but by financial hardship, and many are lower-income individuals who simply can’t afford to deal with unexpected major expenses such as job loss or medical bills.Occupation: Staff Writer.
\When I counsel people who are thinking about filing bankruptcy, I often hear that they feel alone, stranded, have never known anyone who has filed, have no one to talk with about it.It can certainly be intimidating when you think you’re the only one who has ever been in severe enough financial stress to consider seeking a discharge of those debts.
The number of young people going bankrupt has increased 10-fold in three years as rising self-employment and the "temptation" of easily-obtainable credit cards have pushed Generation Z into debt.
Nov 05, 2018 · YOUNG adults are going bankrupt at a record rate. An explosion in easy access to credit, online services and buy-now-pay-later schemes is causing snowballing debts among young people. Many don’t Author: ANTHONY KEANE.