18-24 year old BK filers

[NowImDownInIt]

Have increased 96% in 10 years.. Wow..

That's according to a seminar my company offered yesterday on financial stress. Kind of crazy.

[mrskal]

That does not surprise me at all with the way the credit card companies "offer" cards to that age group is unreal. Most are probably making somewhere around min wage to begin with and have no clue. My daughter gets CC offers all the time at 19 years old. I think the first one came when she was 16. My advice to her, dont do it!

It is weird to think about it. We make so much more than her, but her financial picture is so much better, because of no debt! In a way, I am glad to have BK happen to us now while she is at the age that she understands it, for the most part anyway. I hope it will deter her in the future from ever getting in the position we are in now.

[backtoschool]

I also think the "shame" surrounding filing bk is going away, especially for younger debtors, and they see it as one of many financial options available to them.

[NowImDownInIt]

As a relevant side-note, I am 24. I was 21 when I filed. You are right BTS, in saying that the negative stigma is becoming somewhat less of an issue.

[stueban]

Doesn't surprise me at all. I have been carrying debt I charged during those ages for years now. It was a big chunk of what got me into the situation I am in now. I so wish I could go back in time and tell myself NO! But at least the future has a light at the end of the tunnel now.

[angles]

The credit cards are not making money off the older age groups so they focus on the less experienced, more venerable age groups that don’t have the life experience in dealing with debt. Very predatory if you ask me.

[jetsfan2010]

if you are young make mistakes and can start over before you get into your mid to late 20s, more power to ya.