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Likelihood of bankruptcy after retirement increases sharply

People are filing bankruptcy in their golden years more than before according to a study by a professor group. The professors used data gathered by the Consumer Bankruptcy Project and determined that the number of bankruptcy filings by people aged 65 to 74 grew by more than 200 percent between 1991 and 2016. In Virginia and across the U.S., the rate of bankruptcy filings by people 75 or older has more than tripled over that same period.

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