Last Year, 6 Out of 10 People in Seoul Who Filed for Personal Bankruptcy Were over 60 Years Old.

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A survey found that six out of ten people who filed for personal bankruptcy in Seoul last year were over 60 years old. Personal bankruptcy is a system where individuals who are unable to repay all their debts with their own assets file for bankruptcy in court to resolve their debts. This means that many elderly people are struggling with debt.