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Grandparents are Drowning in Credit Card Debt

CNN Money

People age 65 and up carried an average of $10,235 credit card debt in 2008, according to a study released Tuesday by Demos, a public policy research group. That's an increase of 26% since the organization's last survey of low- and middle-income borrowers in 2005. The average debt for all borrowers in the survey rose just 3%, to $9,827, during that same time period.