More Black Women Going Bankrupt [Report]

Studies show that black women continue to fall short financially in comparison to their white counterparts

From BlackNews.Com

Three studies released this year continue to show the dire financial state many African American women are finding themselves in.

A study earlier this year showed that blacks are eroding their retirement savings at a rate quicker than others.

Another study found that the single median wealth income of black women is $100 compared to that of single white women which is $41,000.

Other research shows that more and more Black women are filing bankrupcty, and defaulting on student loans – which has an overall default rate of about 15% now for for-profit colleges, according to the U.S. Dept of Education.

Read more at BlackNews

ACROSS THE WEB
  • Yodle11

    Yeah… This story is a bummer. But this is happening. I am black. 34 years old and getting ready to file bankruptcy. To be honest I should have filed at the height of the recession in 2007 when I was laid off. But I bought into the BS that its such a bad thing to do. When the banks were getting bailed out I was humping working at minimum wage paying jobs because that was ALL I could find even though I have a college degree and years of business experience.
    So frankly, I am excited about filing. Better now than ever. I am tired of being hounded by collection agencies and being embarrassed because my student loans and medical bills have chewed up my credit report like chopped liver. I want to be FREE and that is exactly what bankruptcy is for. My mom filed and her life went on. My boss filed and her life went on (my boss is white).
    Also, black women and blacks in general need to stop waiting to be hired by corporate America (which is controlled by white males who often want to keep the number of blacks they hire at a minimum) and hire OURSELVES. If you can’t get a job, Hire Yourself. Find busness and push it with all your might. $1000.00 made on your own beats $2000 made from working for someone ANYDAY.

  • Pingback: Ten Tight and Tricky Financial Challenges That Will Test African-American Resilience in 2013