A recent post on MSN Money highlighted a CESI Survey on Retirees and Debt. This article on the 6 Credit Mistakes that Retirees make highlights some of the important points:
A recent survey by Consumer Education Services, Inc. in Raleigh, N.C., revealed that nearly 40% of seniors who have accumulated debt in their retirement years are not worried about paying it off before they die. The survey also found that 56% of retirees had outstanding debt when they stopped working. Another survey found that bankruptcy filings by people ages 65 to 74 rose 178% between 1991 and 2007, and that was even before the Great Recession.