Private Breakfast Debate: Monday 30th September, Manchester (Outside the secure zone), 8:00 (for 8:15) to 9:45
Recent research by ILC-UK for Age UK (Tales of the Tallyman) found that three in ten (28% or 1.1 million), older people in debt were considered to be in “problem debt” and struggling to repay what they owed. Ten per cent of older people with unsecured debt – around 400,000 – were paying over £85 a week to service their debt.
It is widely acknowledged that debt problems seriously impact on people’s quality of life and relationships, but for the first time, this research showed that older people who enter problem debt are over twice as likely to experience marital breakdown as those who do not.
Stepchange, the UK’s leading debt charity, have reported growing concerns about older people in debt, reporting that the over 40s owe four times as much money as those aged under 25.
Following a successful partnership in 2010, ILC-UK and Personal Finance Research Centre PFRC at the University of Bristol have teamed up to work together on consumption and wellbeing in later life. This work has been funded by the Economic and Social Research Council Secondary Data Analysis Initiative.
At this breakfast debate, PFRC at the University of Bristol will present new evidence on the nature of debt in old age. Stepchange will discuss their experience of debt and the older consumer and ILC-UK will present the findings of Tales of the Tallyman.
Following short presentations of the research, participants will be encouraged to debate policy solutions to tackle the challenges highlighted.
If you are interested in attending this breakfast event, please contact Lyndsey Mitchell on firstname.lastname@example.org.