EVER more over 55s are struggling with debt, with some facing mortgage repayments into their 80s, a Poole advice service has revealed.

Following a national survey which found nearly a third of older people are in debt, with 15 per cent worried they’ll never repay it, Poole Citizens Advice Bureau has told of a growing debt crisis among older people in Dorset.

Richard Bristow, chief executive of Poole CAB, told the Daily Echo: “The thing that has come as quite a shock to us is the number of people we are seeing in their late 60s and even early 70s who still have mortgages left to run another 10 years.

“Clearly some banks have lent mortgages calculating they will be in their 80s before paying them off – which seems reckless.”

According to the survey by insurer Aviva around 30 per cent of over-55s have some form of unsecured debt they are struggling to clear, and 21 per cent are still repaying their mortgage.

One in four said they did not think they would be able to repay all of their debts until they were at least 75, and 15 per cent never expect to get back into the black.

Many of those asked blamed the rising cost of living, becoming unemployed or having to cut back on work.

Mr Bristow added: “Over the last few years we have seen a growing number of retired people still with significant amounts of debt.

“The problem we’re seeing is people who took on the borrowing while they were in their early 50s or late 40s and believed they would stay in employment a lot longer period than has transpired.”

He said a more and more were seeking advice on debt relief orders or bankruptcy – which puts them at risk of losing their property.

Others were forced to sell their homes quickly to clear debts.

“There is often such pressure from creditors they would rather take the risk of losing their home and move into rented accommodation to get rid of that pressure,” he added.