Category: Debt

The Govt considering financial MOTs for over 50s

Dec 17 2013

The Government should introduce “financial MOTs” for those aged over 50, a think tank has suggested. The Smith Institute has called for bold action to warn people about the danger of problem debt in the same way that campaigns raised awareness about HIV and Aids in the 1980s. The report, supported by StepChange Debt Charity, …Read the full article

Age UK : Over 50s using equity to pay off mortgage and debts

Dec 17 2013

Internal data from AgeĀ UK Enterprises reveals how a significant number of those in later life are using equity release products to pay off outstanding mortgages and unsecured debts. Just over a quarter (27%) of funds released by Age UK Enterprises equity release customers were used to clear their mortgage, with another 19% of funds used …Read the full article

‘Debt problems may fuel divorce among older couples’

Dec 17 2013

Elderly couples who struggle with debt are more than twice as likely to suffer marriage breakdown than those whose finances are steady, research suggests. Old people can be as harmed by debt as younger groups, argues the Age-UK and International Longevity Centre study. Retired people’s budgets have been squeezed by high energy prices and poor …Read the full article