Friday, February 16, 2007

Generation debt – but not just the young!!!

Older males 'have largest debts'

Credit Counselling Charity see more men over 60 with ave ratio of debt to monthly income of 36:1, on average oweing £36,940. When including female clients, the age group with the biggest debt problems, regardless of gender, tended to be thos 40 to 59.

Posted by nearly30 @ 08:33 AM (450 views)
Please complete the required fields.



7 thoughts on “Generation debt – but not just the young!!!

  • “The total amount of personal debt in the UK, excluding mortgages, rose by 9% last year to £213bn, according to the Bank of England”.

    Interesting stuff – so it looks like you can’t just blame the young.

    Even people on this blog-site were eulogizing about how the older generation had been through recession and wouldn’t deal with credit the way the young now do – the problem seems not so cut and dry does it!!??

    The problem is you can’t escape debt – I think it was d’oh or George that wanted a counselling group that were debt averse – not so daft!!

    The young a ‘sold’ debt – but there is very little option other that debt – you try being young and ‘getting on with life’ without being more indebted than the previous generation.

    As for older people – who knows what’s happening there – perhaps it’s a symptom of Gordo’s miracle economy – the pension crisis – or we’re just too greedy!!???

    Reply
    Please complete the required fields.



  • On top of being the worst country to bring up children(bottom of a list of 21 developed countries), having the highest prison population in Europe and now the most in debt population. In other words a social dustbin. Well the people running the show and those advising them have seriously lost the plot for a long time now. Oh sorry I forgot they are too busy with their plans for building a string of supercasions. I’m sure that will fix all these dreadful problems.

    Reply
    Please complete the required fields.



  • Although surveys suggesting that boomers are the age group with the biggest debt problems have been around for some time, I don’t understand why. Is it due to divorce, unemployment etc. or something else? I find it hard to comprehend how that generation could have gotten themselves into more trouble than the young.

    Reply
    Please complete the required fields.



  • ” I find it hard to comprehend how that generation could have gotten themselves into more trouble than the young.”

    They’ve had more time and have probably got to a stage in life where they don’t give a flying fairy.

    Reply
    Please complete the required fields.



  • Is it because they’re are all now MEW’d up to the eyeballs to help their kids go to uni/buy a house?

    Reply
    Please complete the required fields.



  • I must get my ticket booked on the ferry out of this country don’t want to get crushed in the rush when it all goes belly up. Problem is other countrys are already getting cheesed off with our economic refugees turning up on their shores I may have to claim I’m an asylum seeker.

    Reply
    Please complete the required fields.



  • A lot of older folks were shafted when it came to pensions especially if they worked in Britains old private industries like engineering and manufacturing. A trip round your local B&Q will show you where all these former skilled workers ended up, unemployable anywhere else and unable to make ends meet on their meagre pension.

    Todays 30 and 40 somethings may be puzzled by this now but I suspect they may well end up even worse off in 20 or so years time.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>