People over the age of 60 are the fastest-growing group of people seeking debt advice, according to the Consumer Credit Counselling Service (CCCS).

The UK's increasingly large amount of cumulative debt, currently totalling around £1 trillion, is thought to be driven by a consumer society, the proliferation of credit cards and the lending industry as a whole.

More and more old people are reliant on credit to make ends meet although debt is still a taboo subject and most are too embarrassed and ashamed to admit they are in financial difficulty.

Research by Scottish Widows Bank revealed that one pensioner in six is still in paying off their mortgage by the time they come to retire and some 1.76 million older Britons owe a total of £80 billion on their homes - with an average debt of £45,313.

"The proportion of people over 60 (male and female) who came to us for help rose from 4.6 percent in 2003, to five per cent in 2004 and 5.4 percent in 2005," said Frances Walker from the CCCS.

"The amount of debt owed by the over 60s is rising. In 2003, a person over 60's average debt was £25,706. It rose to £33,568 in 2005."