Data from Key Retirement, which specialises in finance for the over-55s, found 14% of people aged 65 plus were relying on credit cards to boost their income.
Meanwhile, 26% of over-70s were juggling three or more credit cards, and one in ten had a balance they had not cleared for more than a year.
The statistics from Key Retirement also showed both secured and unsecured debt held by over-65s had gone up from £70 billion in 2016 to £85 billion in 2018.
All this has led to one in five over-65s being unable to enjoy retirement because they were struggling to maintain their standard of living.
Now Key Retirement has joined forces with financial expert Alvin Hall to promote this issue. It has launched a guide to h…
Read the full article at: https://www.themoneypages.com/debt/help-65s-struggling-debt/