Older People Walking Into A Bleak Future On Debt, UK

Main Category: Seniors / Aging
Article Date: 28 Aug 2007 - 1:00 PDT

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Reacting to recent research highlighting the increasing debt problems experienced by older people, Help the Aged in Northern Ireland's SeniorLine Manager, Sinead Campbell, has urged any older person currently worried about debt to contact the free SeniorLine advice service (0808 808 7575).

'With one in five retired homeowners still paying a mortgage (1) and one in five pensioners living in poverty, the future looks pretty bleak for many of today's pensioners. When people don't have work to fall back on, financial worries can be incredibly stressful and have a ripple effect on older people's general health and wellbeing.

'The present generation of older people has lived through a period of massive change in money management thinking. The stress and shame associated with debt seems to particularly affect older people. Credit collection agencies and threats from bailiffs often cause genuine worry and illness.

'Last year SeniorLine received 206 calls from older people worried about debt and other financial issues. Our trained advisors can talk through the option available to an individual and complete a benefits check to ensure that a caller is getting all of the support they are entitled to. I urge any older person worried about debt not to continue worrying alone. Debt problems do not go away by ignoring them, but they can be managed if you get the right advice and support.'

1) Research on grandparents and debt published by Scottish Widows, August 2007.

Help the Aged is the charity fighting to free disadvantaged older people in the UK and overseas from poverty, isolation, neglect and ageism. It campaigns to raise public awareness of the issues affecting older people and to bring about policy change. The Charity delivers a range of services: information and advice, home support and community living, including international development work. These are supported by its paid-for services and fundraising activities - which aim to increase funding in the future to respond to the growing unmet needs of disadvantaged older people. Help the Aged also funds vital research into the health issues and experiences of older people to improve the quality of later life.

http://press.helptheaged.org.uk