This could mean that dipping into your pension pot - either as a means of repayment or a route to extra cash - becomes tempting. It's important to remember that your pension fund is limited, and needs to provide for you for many years.
This number may seem surprisingly large, but outstanding interest-only mortgages are a concern for many people. If you're one of them then it's good to know that you're not alone - but you should still take the time to ensure you have a suitable repayment vehicle.
The monthly repayments on a credit card can be worryingly high, especially if you're trying to reduce the balance by paying of a reasonable sum each month. For many it can be a catch-22 situation: pay off more than you can afford and make sacrifices in other areas, or pay off the minimum and be stuck with the debt. If you can't afford minimum repayments then it's time to seek urgent debt help.
Unsurprisingly, many over-55s do hope to be debt -free once they reach retirement. But with so much debt still to pay off it can be a struggle for them to get there.
Ultimately, the research shows that a large proportion of retirees find themself with one form of debt or another. Over the next couple of weeks we'll be filling RetireWise with informative articles to help those of you who are concerned about debt take back control.