People age 65 and older are the fastest-growing segment of the population seeking bankruptcy protection.

For many, bankruptcy carries a stigma of personal failure and shame. Still, filing for bankruptcy protection may be a viable option for a growing number of seniors who find their incomes shrinking while their bills – particularly medical bills – continue to rise. USA Today recently reported a study from the University of Michigan Law School showing that people age 65 and older are the fastest-growing segment of the population seeking bankruptcy protection. It’s a matter of simple math. Medical expenses, taxes and other costs keep going up, while Social Security hasn’t had a cost of living adjustment, pension and…

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