More older people get specialist help with their debts

saving two euros in a piggy bankThe number of people who are receiving special help with sorting out their debts has fallen for the third year in a row, the national statistics office CBS said on Tuesday.

However, the number of people aged 45 and over with serious debt issues has increased again, the CBS said.

In total, 12,300 people applied for specialist debt help last year, a drop of 1% on 2013. Of them, 47% were aged 45 and older. In 2002, the over-45s accounted for just one in four of people in serious financial trouble.

The CBS says the fact the population is growing older and that unemployment has risen among older workers are behind the rise. Divorce is also a reason why more people end up in formal debt counselling.

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