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A Troubling Trend: Seniors and Bankruptcy

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AP Photo/David Goldman
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When financial affairs have spun out of control, filing bankruptcy is an option … but typically a last resort. Recent research published as ‘Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society,’ reveals that a growing number of adults 65 and older are choosing bankruptcy as their best option. We hear from Professor Deborah Thorne, a principal investigator for the ‘Consumer Bankruptcy Project.’ Then we ask Helene Raynaud, of the non-profit Guidewell Financial Solutions, how to avoid monetary crisis and stress.

Sheilah Kast is the host of On The Record, Monday-Friday, 9:30-10:00 am.
Melissa Gerr is a producer for On the Record. She started in public media at Twin Cities Public Television in St. Paul, Minn., where she is from, and then worked as a field producer for Oregon Public Broadcasting in Portland. She made the jump to audio-lover in Baltimore as a digital media editor at Mid-Atlantic Media and Laureate Education, Inc. and as a field producer for "Out of the Blocks." Her beat is typically the off-beat with an emphasis on science, culture and things that make you say, 'Wait, what?'