Over 60s in biggest debt trouble

An increased awareness among British consumers of financial services available is cited as the reason behind the almost two-thirds (65 per cent) rise in clients looking for help from the Consumer Credit Counselling Service (CCCS), reports the BBC.

Research from the CCCS suggests that on average men in the over 60 bracket have debts totalling more than £35,000 and with typically lower incomes to compound matters older men are now suffering the most acute financial stress in the country.

The latest findings from the CCCS come in the wake of Citizens advice evidence which shows that the number of people in England and Wales seeking out its debt advice services has increased by 15 per cent in 12 months.

Britain also saw an increase in bankruptcy and Individual Voluntary Arrangement (IVA) uptake last year.