nouveau pauvre
/ˌnuːvəʊ ˈpəʊvrə/noun
A person who has recently become poor. Also with the: such people as a class (treated as plural).
adjective
Of a person or group of people: recently impoverished.
Origin
Late 19th century; earliest use found in The Atlantic Monthly. From French nouveau new + pauvre poor n.1, after nouveau riche adjective French nouveau pauvre is apparently not attested until the 1930s, and the English probably represents an independent formation.