136,000 consumer bankruptcies last quarter. More than a quarter were people in their 40s. Another 23% in their 50s.
These should be prime earning years. Peak income. Peak stability. Instead, half of all bankruptcies are coming from people who are supposed to be at their financial peak.
This isn't about young people making mistakes or retirees running out of savings. This is the middle collapsing.
Whatever story we tell ourselves about the economy, the credit card bills and the court filings tell a different one.
These should be prime earning years. Peak income. Peak stability. Instead, half of all bankruptcies are coming from people who are supposed to be at their financial peak.
This isn't about young people making mistakes or retirees running out of savings. This is the middle collapsing.
Whatever story we tell ourselves about the economy, the credit card bills and the court filings tell a different one.
