Senior Debt

Senior Debt

Riverside, CA

A report by Demos National Survey on Credit Card Debt recently conducted with AARP’s Public Policy Institute revealed that in 2012, for the first time, middle-income households headed by an individual over 50 years old carried more credit card debt on average than households of people younger than 50. 

According to the report, at least half of those over 50 in credit card debt had medical charges on their credit cards; while a third admitted, they used credit cards to finance daily expenses. For many seniors, the stress of credit card debt is so impacting because it is much more difficult for them to generate income. 

The reason so many seniors are in credit card debt, varies. In some instances, they may have carried debt into retirement; in other cases, seniors may still be paying off student loan debt (either theirs or their children’s); and in too many instances, seniors may rely on credit cards to cover daily expenses because they were unable to save enough to live on during their retirement. 

Experts encourage seniors who find themselves struggling to manage credit card debt to contact their card issuer and work out a payment plan.

About The Author

Dr Main Sidebar

ACROBATIC MATHEMATICAL THINKING (6)

A powerful Creative and Critical Thinking exercise is to first learn shapes of the Pyramid, Square, Trapezius, Trapezoid, Rectangle, Triangle, Circle, Octagon, Ellipse, Lunette; study which are Cosmic and/or and human-made; and determine what are indications for using...

MATHEMATICS OF AFRICAN TRADITION FOR BLACK YOUTH (5)

Patterns, Shapes, and Forms are fundamental tools to help one see and give meaning to Real, Surreal, and Unreal Things. These contribute to understanding and the explaining of Principles (unchanging realities), Events (changing realities), Settings, Situations, and...

***AFRICAN UBUNTU IS SPIRITUAL “ME/WE” (1)

“ME/WE” is an: "All for One, One for all" concept of African Zulus, called Ubuntu. The Nguni Bantu define it as connection of all “Humanity”—meaning its “Sameness” creation is the Cosmic Force. They translate it as: “I am because we are”; or “Humanity towards others”...

Share This