Project Management

The Senior Debt Crisis

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Executive Summary

Credit-card debt used to be considered rare among the elderly, many of whom have spent most of their lives not owning a credit card, let alone carrying a balance that's beyond their means. But it is rare no longer. "Credit-card debt is becoming common among older Americans in the same way it's common among all other age groups," Nearly one-third of senior citizens in the U.S. carry card balances.

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