CCCS: People with debt problems are getting older

Statistics from the CCCS’ so-called yearbook reveal that of those people approaching the organisation for advice on becoming debt free close to 50 per cent were aged over 40.

In addition, it was revealed that around half of those advised to file for bankruptcy by the CCCS did not do so and that a third of these people cited the stigma associated with doing do as the reason why.

Chairman of the CCCS Malcolm Hurlston commented: “The increasing levels of debt among the over-60s has been a marked trend for the past 18 months and shows every sign of increasing.”

Last month, the accountancy firm KPMG reported its own expectation that the number of Individual Voluntary Arrangements applied for in the UK would surpass the number of bankruptcies arranged during 2007.