Personal allowance freeze may exacerbate debt problems

Mon, 26 Mar 2012

experienced by older people in the UK could be exacerbated as a consequence of the personal allowance freeze for over-65s announced as part of the Budget.

This is according to the Consumer Credit Counselling Service (CCCS), which expressed concern that the move detailed by Chancellor of the Exchequer George Osborne might prove a further financial hit for the elderly.

Delroy Corinaldi, external affairs director at the CCCS, commented: "Unmanageable is very difficult to deal with at any age, but particularly when opportunities to increase income are limited."

Mr Corinaldi noted research carried out by the debt charity, which has been operating since 1993, highlighted a minority of individuals in this age group are persistently plagued by debt troubles - with the size of this group becoming larger all the time.

The study - released as part of the group's Statistical Yearbook - showed demand for advice regarding arrears has increased for the demographic by 15 per cent in just three years, with individuals remaining in debt problems for longer and taking this burden into later life.
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