People between 18 and 25 years old are one of the fastest growing groups to go bankrupt?

Young adults aged 18 to 25 are increasingly facing bankruptcy due to a combination of factors such as rising student loan debt, limited job opportunities, and high living costs. Many in this age group struggle with financial literacy, leading to poor budgeting and overspending. Additionally, the impact of economic fluctuations, like inflation, has further strained their financial stability. As a result, they are becoming one of the fastest-growing Demographics filing for bankruptcy.