The Vulnerability of Older Australians in Bankruptcy: Insights from an Empirical Study

Abstract

This article presents the results of the first empirical study focused on older Australians in bankruptcy. Our study - based on the examination of a large and unique dataset obtained by the authors from the bankruptcy regulator, the Australian Financial Security Authority, offers valuable insight into the severe financial challenges faced by many older Australians. Our analysis provides insights into the most significant causes of bankruptcy for older Australians as well as some possible explanations for their financial vulnerability. Our findings include that older Austra­lians comprise an increasing proportion of those in bankruptcy and are far more likely to cite excessive credit as the c..