The Senior Debt Crisis

Topics:
Financial Research
Tags:
Balance,
Bank Of America Corp.,
Debt,
Financial Services,
Sales,
Sales Channel
Source:
Bank of America

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Overview: Credit-card debt used to be considered rare among the elderly, many of whom have spent most of their lives not owning a credit card, let alone carrying a balance that's beyond their means. But it is rare no longer. "Credit-card debt is becoming common among older Americans in the same way it's common among all other age groups," Nearly one-third of senior citizens in the U.S. carry card balances.

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Format: HTML | Date: Jan 2009 | Pages: 3

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