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Seniors said struggling with bankruptcy

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Published: March. 30, 2009 at 2:03 PM

MIAMI, March 30 (UPI) -- U.S. senior citizens filing for bankruptcy, many because of mounting medical bills, are struggling to find help, advocates say.

"It's bad," Barbara Prager, executive director of Coast to Coast Legal Aid of South Florida, told Monday's The Miami Herald. "We're seeing a lot of seniors with medical debt and without the income to pay for it. And it's coming at a time when it's harder to find solutions."

An AARP study reveals the rate at which elderly Americans filed for bankruptcy nearly tripled from 1991 to 2007. Seniors went from 8.2 percent of the total to 23 percent of the more than 1 million people who filed for bankruptcy in 2007, the newspaper said.

The study indicated the increased rate among the elderly was the biggest among all age groups, especially among older seniors, who saw their bankruptcy rate more than quadruple.

"What I see a lot of are seniors using their credit cards for prescription drugs," bankruptcy lawyer Timothy Kingcade told the newspaper. "They need their medicine so they worry about paying it later. But even if you're only charging $200, $300, $400 a month, it adds up. It's not long before they're in a lot of trouble."

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