Retirees up against debt
Across the nation, seniors are becoming the face of the indebted.
In Austin, Ronald and Carol Godwin, 65 and 63, depleted their savings years ago and have since turned to credit cards and home equity to pay medical bills. They're struggling in retirement to pay off loans they took out years ago for a grandchild's college education.
In Scott Depot, W.Va., Carl Brown, 68, has an impossible decision to make every month because his Social Security check usually doesn't cover all of his mortgage, utility, food and medical costs.
"I know there's no way for people to believe this, but there are times when I get my Social Security check and just send everybody I owe $15 to $20," says Brown, a widower who has suffered a heart attack and stroke. "There are times when I can't buy groceries or medicine."
In Austin, Ronald and Carol Godwin, 65 and 63, depleted their savings years ago and have since turned to credit cards and home equity to pay medical bills. They're struggling in retirement to pay off loans they took out years ago for a grandchild's college education.
In Scott Depot, W.Va., Carl Brown, 68, has an impossible decision to make every month because his Social Security check usually doesn't cover all of his mortgage, utility, food and medical costs.
"I know there's no way for people to believe this, but there are times when I get my Social Security check and just send everybody I owe $15 to $20," says Brown, a widower who has suffered a heart attack and stroke. "There are times when I can't buy groceries or medicine."
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posted by e-borneo.com @ 6:30 PM
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