'Crippling debts' hit retirements
Updated on 03 October 2008
Growing numbers of people could be forced to delay their retirement after racking up crippling levels of unsecured debt, new research shows.
The average person aged between 50 and 60 who has taken out a debt management plan owes £41,400 through credit cards, loans and other unsecured borrowing, according to debt solutions group Payplan.
The figure is 25% higher than the amount of debt accumulated by other age groups, which averages £32,700.
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