Gen Yers Filing For Bankruptcy in Record Numbers

Jan. 17, 2008 - PRLog -- (MINNEAPOLIS, MN)—According to GAO Reports, bankruptcies amongst Gen Yers have increased fifty percent over the last ten years and constitute one in ten filed in the United States. What makes these numbers more alarming is that Gen Yers are supposed to be in their prime earning years. So what went wrong?

According to Jessie Conners, former Apprentice and author of Nightmare Nation: Redefining the Pursuit of the American Dream, the major issue is debt.

“College loans and credit card debt have put many Gen Yers into the red zone before they enter the workplace,” says Ms. Conners.  “For over seventy million Gen Yers, this brings up a very critical issue regarding their financial futures. They will have to work for ten years to get themselves out of debt before they are even back to being dead broke.”

Nightmare Nation instructs readers how to:
•   Get out of debt.
•   Create other sources of income.
•   Change their attitudes toward saving money.
•   Set up retirement accounts now, no matter what their ages.
•   Invest! Find reliable advisors and make plans.

To Ms. Conners, the increase of bankruptcy statistics for Gen Yers suggests that already-soaring personal debt will only worsen as they grow older.  

“Making matters worse, when it comes to managing their debts, Gen Yers are severely miscalculating what they owe and overestimate how much money they’ll be making,” says Ms. Conners.  “This will only mean that acquiring a car loan or mortgage will become much more difficult. Eventually, if they do not get approved for a given loan, they will be forced to pay a higher interest rate due to their bad credit.”

Ms. Conners has made countless television appearances, including Oprah, CNBC and The Today Show, and was recently interviewed by Chuck Jaffe of Your Money Radio. She also has upcoming interviews scheduled with WOCM-FM.

Jessie Conners works as a nationally acclaimed keynote speaker and appears at over 300 events a year. Currently a real estate broker, she started her own marketing firm at seventeen years old and began investing in real estate at nineteen.



(Nightmare Nation: Redefining the Pursuit of the American Dream by Jessie Conners;
ISBN: 0-9793259-0-0; $14.95; soft cover; 5½ x 8½ ; 220 pages; PROTÉGÉ PRESS)

Website: www.arborbooks.com