A new poll has showed that retired people are increasingly burdened by debt problems, around 34 per cent of retirees have unsecured loans and the average debt owed is £7,344.

Around 15 per cent of retirees are also still repaying their home loans, owing an average of £50,100 which is an £8,000 increase since 2007.

The poll by Scottish Widows also found that 7 per cent of retired people still had adult children who were financially dependent on them.

According to Scottish Widows the recession has affected retired people badly as well as reducing their pensions, which has lead to many pensioners in debt.

"The recession has seemingly done nothing to encourage retirees to cut their debt, and with the possibility of the value of their property dwindling, they could be leaving themselves in a vulnerable position."

Some mortgage lenders have also cut their maximum lending age to 65 which has left many pensioners struggling with debt and unable to get a new loan, leaving pensioners at risk of losing their homes.

Grant Shapps, the Shadow Housing Minister, has said:

“This will send chills down the spines of thousands of hardworking people who thought they would retire in comfort.

Those nearing retirement will instead be worrying about how to keep their homes.”

However, mortgage brokers have advised that this is unlikely to happen as it would reflect badly on lenders to evict elderly people without good reason.