Debt Advice Needed for Pensioners

With a recent survey showing that large numbers of pensioners have debt problems, debt help organisation The Debt Counsellors is urging people over 60 with financial difficulties to seek professional debt advice.

(PRWEB) July 30, 2006 -- With new research showing a debt crisis among pensioners in the UK, debt help organisation The Debt Counsellors are urging over-60s in financial difficulty to seek professional debt advice (http://www.debtcounsellors.co.uk).

A survey by insurance firm Prudential shows that over a million pensioners have an average debt of £15,500, while as many as 70,000 have debts between £50,000 and £75,000.

This is further evidence that the UK's problem of personal debt is affecting all age groups and sections of society. The total of personal debt in the UK has almost reached £1.2 trillion, and £1 million is being added to that total every four minutes.

However, The Debt Counsellors insist that there is no need for those affected to panic as debt solutions exist for even the most serious cases, but they also emphasise that it is imperative for them to get debt advice from the professionals.

John Porter, senior counsellor with The Debt Counsellors, says too many people among the older population suffer in silence when it comes to debt problems.

Porter said: "People of a certain age are reluctant to ask for help when it comes to their finances. However, organisations such as The Debt Counsellors provide free and confidential debt advice and we can match the right debt solution to the individual debt problem.

"Therefore, we urge anyone with debt problems, whether they are a pensioner or not, to get debt advice as a first step towards becoming debt free again."

For more on debt problems and debt advice, see http://www.debtcounsellors.co.uk

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