Older People And Debt Campaign

EDM number 1289 in 2007-08, proposed by Alan Meale on 31/03/2008.
Categorised under the topics of Elderly people and Incomes and poverty.

That this House is aware of new research published by Help the Aged which details studies of the extent and nature of borrowing and financial difficulties among people aged 50 and over which has revealed that at least a quarter of the older population are approaching state pension age with outstanding credit commitments and that credit users in their late 50s and early 60s owed on average at least four times as much in 2005 as their counterparts had in 1995; further notes that 12.5 per cent. of over 60s are still paying mortgages, as are four per cent. of the over 80s and that, unlike many borrowers in other age groups, older people use credit cards, not just to pay for non-essentials, but also to cover the cost of bills or even to buy food; and calls on the Government to urgently meet Help the Aged to find ways of aiding elderly people away from the difficulties this excellent report has highlighted.

This motion has been signed by a total of 63 MPs, 1 of these signatures have been withdrawn.