Business Reports

Thu Jan 24

why more older Australians are declaring bankruptcy

Written by Ian Ramsay, Professor, Melbourne Law School, University of Melbourne

More than 40% of older people declaring bankruptcy owe more than A$20,000. Fewer than 10% own their own homesShutterstock

Bankruptcy is affecting more and more older people.

About 2,400 of the almost 17,000 new bankruptcies in Australia in 2017-18 were aged 60 or more, information from the bankruptcy regulator suggests. Since 2002 the proportion of...

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