Over 60s in debt crisis

9 May 2013

Not only do the over 60s have to be worried about who they may or may not have groped at the BBC in the 1970s – they’re also suffering a major debt crisis.

Wonga

Over-60s owe an average of £23,000, a figure which is up 40% since the recession, according to debt charity Step Change. The problem is credit cards - seems that today’s beige warriors are more than happy to pay for M&S ready meals and Steradent on tick. And it doesn’t help that state pensions are miniscule.

Neil Duncan-Jordan, from the National Pensioners Convention, said: ‘People just don’t have the income to be able to sustain their lifestyle. The number of old people going to food banks is increasing. The number going for debt advice is increasing. The number of people really really struggling, usually in silence, is increasing.’

At the time when older people should be warming their hard working feet in their Big Slippers and feeling secure, it seems that the financial crisis has left us all completely shafted, whether we’re just starting out or winding down. Let's all put a bottle of gin on the credit card and wait for death, shall we?

TOPICS:   Investments   Debt   Government   Economy   Credit Cards

3 comments

  • Dick
    Maybe that's why there are all the groping stories coming out now. They cannot pay their bills, so they want compensation for a real / imaginary feel-up in the 1960s.
  • Alexis
    You might as well go mental on credit cards in your late 60s since the debts die with you.
  • Natty
    @Alexis Only if the is no money left in the deceased estate after paying for the funeral, taxes, secured debts.

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