Debt collectors deal with more seniors

Every third debt collection case concerns senior citizens, claimed an IAR release. The National Council of Judicial Officers press secretary Robert Damski said, "The most often found problems concern temporary loans with a greatly increasing interest rate or loans taken by old people for younger relatives who in turn don't pay them back." The debt collection cases that concern senior citizens often paint a picture of people who are caught in spiraling debt, taking on new loans to cover old debts, and so on. Debt collectors are encouraging an open door policy that aims to bring the subject to the fore.