Secured personal loans better than taking money from mates
www.moneynews.co.uk > Personal loans > Secured personal loans better than taking money from mates
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Secured personal loans better than taking money from mates
Wed 30th Mar 2005
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As a result the investment group is urging people to use secured personal loans rather than money from mates.
According to the research almost 75 per cent of Brits borrow from their friends from time to time. Of these over seven million admit to taking advantage of their mates' generosity and not paying back the loans.
Clerical Medical offered a cautionary tale to warn people off the practice of borrowing from buddies. Following a £7,000 loan and an unreliable friend the following deal turned sour.
"A month after our agreed payback date, my friend lost his job, I suggested he got a lodger to help out but this fell on deaf ears. In the meantime, I was invited round to his house and had to watch as he bought himself new furniture and carpets while I was still waiting for my money!
"But the whole thing destroyed our friendship - we haven't spoken for six or seven years and I'll never lend large sums of money to anyone ever again," explained one spurned lender.
Related News : Personal loans |
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Related News : Loans |
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