Wednesday 05 Jun 2013 @ 13:30
Third Sector
Third Sector
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Age UK - 3 in 10 older people in debt are struggling to repay
Three in 10 (28%) of the 1.1 million older people in debt are considered to be in 'problem debt' and are struggling to repay, according to new research published yesterday by the International Longevity Centre – UK (ILC-UK) and Age UK.
The findings, using data covering 2002-2010, reveal that around 6% of over-50s in England faced debt problems in 2010 while around a quarter of the older population were using unsecured credit.
And while the overall numbers of people with problem debt remained virtually unchanged between 2002 and 2010, among those with unsecured debt, 28% were considered to be in problem debt in 2010 – a rise from 23% in 2002.
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