Seniors and aging baby boomers are struggling with growing credit card debt - and experts expect the numbers to rise as retirement funds fall short and the cost of living spirals ever higher.
We see a lot of older folks on fixed incomes who are finding retirement funds are not sufficient to keep up with everyday living,'' said Andy Liles of American Credit Counseling Service Inc. ``They go into credit-card debt trying to pay for their meds.''
It's a shift from the common debt demographics of years past: college kids charging burgers and beers on plastic with no real plans of paying off the balanceContinue reading
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