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November 2007
Debt Problems For The Over 60's

New information published today indicates that pensioners are running into increasing amounts of debt with the expectation that more over-60's will be seeking help with their finances than the under-25's by the end of 2007.

Research shows that many are unaware of how much they owe with around 15% admitting that they have no idea whatsoever.

It is reported that the total UK personal debt reached £1,363 billion at the end of August 2007, a growth of nearly 10% on the previous year.

Consumers should apply for a copy of their credit report and work out the repayment plans for their loans and credit cards as well as shopping around for the best deals available.

http://www.moneyexpert.com/News/Loan/18329341/Over-60s-are-having-more-problems-with-debt.aspx

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