More people are retiring in debt, after which they may be faced with credit card charges.Christopher Friel, financial advisor at Prudential, an international financial services group, claims that this increase is due to the fact that people are taking out credit cards to enjoy their later years.He said: "Across the board more people are [entering retirement in debt]. Reasons being that people have pretty much overspent."People are enjoying their later years more; they are going out and there are more credit cards freely available. As a result of that they are building that up and taking it into retirement."Mr Friel added that rather than using the lump sum from their pension to help them through retirement, they are using it to pay off credit card debt.A recent report by the Organisation for Economic Co-Operation and Development suggested that in order to combat higher pension costs, Britain must adopt a grey workforce.Jennifer HainesJennifer's speciality knowledge is credit card changes and balance transfers.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
Please note that calls may be recorded and email traffic monitored for the purposes of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.