In this tougheconomy, the allure of buying lottery tickets seems like apretty enticing way to erase financial problems. But newresearch shows that people who won between $50,000 and$150,000 did not solve their debt problems and onlypostponed bankruptcy.
Mid-level lottery winners did not pay off their debt orincrease equity in new or existing assets. And though thesemid-level lottery winners were less likely than smallwinners (those who won less than $10,000) to file forbankruptcy immediately after winning, they were 50% morelikely to file for bankruptcy three to five years afterwinning their prize.
Researcher Paige Marta Skiba says,
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