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Debt Problems Hitting All Areas Of Society

News that the debt crisis hitting the UK has no regard for the age of those suffering has alarmed many of those in the older bracket. While initially it had been the younger crowd which were hit hardest this has now spread to other areas of the population. However, while those of less mature years will have time to try and work their way through the debt crisis, those over 55 may well find the situation is impossible.

A report by Independent Solutions has confirmed that loans in the over 55 age range are now averaging £8,700 while those in the over 70s age range have shot up to nearer £11,000. A mixture of falling house prices and increases in the general cost of living has pushed many towards the abyss. Reports also show that many of the elderly have been forced to dip into their savings to make ends meet with more and more unlikely to get a chance to replenish their nest eggs.

Many observers are now starting to query how sections of the UK population who are not extravagant and live a quiet life have been dragged into such a terrible situation. Suggestions that the government is not doing enough in this area are very popular across the board.

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