Many are struggling with credit card debt, including pensioners. Statistics Norway has figures that demonstrate that the elderly have become part of the consumer carousel. In 2003, Norwegians over the age of 67 had an average of USD 41,000 in debt. In 2013, the average had increased by 291 per cent to USD 162,000.
Imee Johanna Brudsen, county leader of the Pension Association in Hordaland, is desperate for seniors who take on new debt obligations.
It’s okay to take debt into retirement. However, it is sad that pensioners take up new debt. I know about the elderly who take out a loan on the home to hang with. They want to buy what they want and travel to the South with friends and girlfriends. We cannot raise pensioners, but we can warn and encourage them not to, ”she says.
Only at Namsfogden in Oslo, the number of debt defaulted cases has increased from 23,000 in 2009 to more than 43,000 in 2015. An increasing number of pensioners are part of the statistics for the bailiffs.
Can be dramatic
There is similar development in Bergen. Only from 2014 to 2015, Namsfogden in Bergen experienced a 20 per cent increase in cases.
According to NRK, several economic experts fear that the extent of the Norwegians’ debt problem will be dramatic in 2016.
– We also register that there are many who are struggling with defaults and who want help to get out of debt, says communications manager Crissa Jeanette Perstad at Lite Lender. He has six danger signs to watch out for in your own private economy.She thinks it is sad that more seniors are going into debt.
– Nobody, including the elderly, should take on debt obligations that cannot be serviced, says Perstad. She also points out that retirees are prone to getting even worse finances after the spring wage settlement.
Since 2005, Lite Lender has assisted Norwegians in financial disabilities. On a daily basis, inquiries come from people who want financial assistance.
Based on rising unemployment, 2016 could be a record year in default. More people have to pay monthly expenses with lower incomes, and so do pensioners, she says.
Credit card debt in particular is increasing in the bailiffs’ statistics, and people from all walks of life are struggling.
Interest rates up to 30 per cent do not appear to scare consumers from taking credit card debt. It’s okay for people to use credit cards, but you should be critical of the conditions under which the different providers operate, Perstad points out.
Here you can read what Lite Lender can offer you who have credit card debt or defaulted debt