Generous Brits are at risk of losing £9.1 billion to their mates
Half of those who lend to friends and family say they won’t get it back
According to price comparison site Finder, people across the UK loaned £16.6 billion to friends and family last year, but 55% don’t believe they will get all of their money back.
The report states that 24.5 million had given out more than £10, with 620,000 incredibly nice people lending more that £10,000, making the average amount lent around £320 per person.
David Roger, CEO of Debt Advice Foundation said;
“Whilst it’s always nice to help someone else, you should only lend money that you can afford to lose. Assume that they won’t pay you back and work out if that would cause you problems before making a lending decision.”
If you are struggling to make ends meet, call our confidential helpline on .
If you’re unable to call our free debt helpline number 0800 043 40 50 right now, you can fill in the form below and one of our advisors will call you back at a time of your choosing.