Bankruptcy up sixfold amongst pensioners

Bankruptcy amongst the over-65s is increasing at a rate 50% quicker than any other age group. Around 10 times more women in this age group are becoming bankrupt compared to 2000. However, bankruptcy is still lower in the over-65 age group than in any other cohort, with the average age of someone going bankrupt at 41 and men accounting for 60% of cases. The Insolvency Service, along with Citizens Advice, the Consumer Credit Counselling Service and the Money Advice Trust, is running a Dealing With Debt campaign this week to raise awareness of how to cope with money problems.