Seniors’ Debt a Growing Concern, Says Alberta Credit Counsellor

Whether it's the cost of groceries, utility bills, pump prices, or rising interest rates, Calgary credit counsellor Shari Thiel says something has caused more seniors to fall into debt and reach out for help in recent months.

Indeed, Thiel said she put an 80-year-old woman on a debt repayment program because she was in debt and feared losing her home after a creditor came after her.

"It is all difficult when people are stressed and suffering because debt and mental health are so related, and then physical health, (but) for me, I find the seniors the saddest," said Thiel, a credit counsellor Money Mentors. "This is not what they expected."

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