26 March 2008
According to a report conducted by Help the Aged and Barclays,
people approaching retirement age today are in four times as much
debt as their counterparts ten years ago.
The report showed that levels of credit use may already be
forcing people to delay the timing of retirement and that one in
four new retirees have outstanding consumer credit commitments. The
report went on to say that the elderly use credit cards to cover
essentials such as the costs of bills or even to buy food.
