One in 10 pensioners carrying `significant amounts` of debt

A study by charity Age UK has revealed that one in 10 pensioners claim they are carrying `significant amounts` of debt, the Guardian reports.

The charity estimates that 1.8 million over-60s are living in poverty and many more are `living close to the breadline`.

One fifth of pensioners are having to cut back on their essential expenditure - including food and heating - because of the rising cost of living. Almost half (47%) of those surveyed said they are only just getting by, with one in 10 saying they are `really struggling`.

Commenting on the findings, a spokesperson at Gregory Pennington said: "As always, we would advise anyone struggling to get by to seek professional debt advice without delay. There is help available, and in general, the sooner it is sought, the sooner people can get their finances back on track."



Gregory Pennington offer debt advice and debt management plans, as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.