Do your grown-up Children owe you money?

Nowadays, with the cost of living, credit cards and high interest rates on loans, the bank of mum and dad seems preferable to borrowing elsewhere.

A new study carried out by MetLife, reveals that retired people are owed thousands of pounds by their grown-up children.

Nearly one in four pensioners are owed money by their grown-up children and many still live at home. The average amount owed by children over 18 to their retired parents is £3,100, with one in 10 owed more than £5,000, and the study also showed that nearly a million over-65s have adult children and family living with them.

Have you got an empty nest, or are you experiencing the boomerang generation, who end up back home after some time living away from home independently?

Have you been put in a situation where you have to lend your older offspring money to help them out of a sticky situation? Are you in a position to write off their debt or is there a repayment plan in place? 


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