Title: How Seniors Can Get Help With Credit Card Debt | US News
Headings: How Seniors Can Get Help With Credit Card Debt
How Seniors Can Get Help With Credit Card Debt
Address debt right away, and live within your means to prevent unforeseen problems.
Is Credit Card Debt an Issue for Senior Citizens?
Why Are More Seniors Using Credit Cards?
How Seniors Can Manage Credit Card Debt
Getting Credit Card Debt Help
Credit Card Debt After Death
How Seniors Can Avoid Using Credit Cards
Planning for a Debt-Free Retirement

Content: "More families that have elderly heads are placing themselves at risk of running short of money in retirement due to their increased likelihood of holding debt while in retirement," the report states. Why Are More Seniors Using Credit Cards? Senior citizens are using credit cards more than in past generations because baby boomers, most of whom are in their 60s or 70s, grew up with credit cards and have continued using them. Also, unexpected costs in retirement, increased daily expenses and the carryover of debts from their working years have made today's senior citizens more dependent on credit cards. Credit card debt is "an issue with working Americans, therefore it becomes an issue when they retire," Copeland says. " You still have a very high percentage of people who are reliant on Social Security. They're on a fixed income and don't have a great deal of savings." The average Social Security check is $1,413, according to the Social Security Administration. About 21 percent of married couples and 44 percent of single adults rely on Social Security for 90 percent or more of their income. gett
That's why when a financial emergency comes along and loans aren't easy to obtain because of limited income, a credit card might be the only option.