Older people are at risk of fraud, which may lead them to need the services of a debt management firm.
Editor-at-large of Saga Magazine Emma Soames says they are vulnerable and therefore liable to attack from fraudsters.
"Do not give away personal information such as bank details and pin numbers, reputable companies don’t ask for this information," she continues.
People also need to be aware of the signs of scams and need to take precautions against becoming victims, Ms Soames believes.
Those who are approached with such offers over the phone need to be given time to consider the deal, the expert advises, with people advised to ask for confirmation in writing to deter potential fraudsters.
A recent survey by the Financial Services Authority showed that 35 per cent of people targeted by share fraudsters in the last year were over 65 and 23 per cent of people over this age felt they could become victims of fraud in 2009.
Furthermore, 41 per cent of the people questioned who did not know that fraudsters could use personal details in passports, driving licences and mortgage applications to steal their identity, were aged over 65.