Data released by debt management specialists has revealed that increasing numbers of older UK citizens are finding it difficult to cope with the recession, and are unable to quit work since they have to maintain excessive debt repayment levels.

According to recently released figures nearly 2 million people are planning on working beyond their retirement, as a direct result of the current economic downturn.

Around a quarter of over-55s believe that they will be forced to work beyond the standard retirement age of 65, in order to make ends meet.

Nathan Gladwell, spokesman for leading debt advice specialists Chiltern Debt Management, is worried at the plight of the older generation. He said “There has been a marked increase in the number of over-55s in financial difficulty, contacting our organisation for help and debt advice.

“We are hugely concerned that individuals that have worked very hard, and for many years, could have no choice but to continue working in order to maintain their debts.

“People approaching retirement, should have something to look forward to, and not have to worry about what the future holds.”

Consumers that are suffering with debt problems should contact a debt specialist for advice before the situation deteriorates further.