"Pensioners are burdened with debts of £57 billion from mortgages and credit cards, new figures show. One fifth of retired people are still paying off a mortgage and a third owe an average of £5,900 on credit cards and loans, says Scottish Widows, the insurer. The 1.1 million pensioners who are still making repayments owe an average of £38,000 on their homes, compared with £35,000 last year. One in eight owes more than £50,000. In addition to these debts, almost 700,000 pensioners have children who are not financially independent. But only a third of these are schoolchildren."

Report Article

Please complete the required fields.

Your Name

Email

Reason (required)
This post contains broken links Post has incorrect information Post has spam Copyright Issue Other

Description

Submit