Unpaid debts affecting friendships by Finance News Bulletin

Published: 21/12/07

touching accounts from one bank to another is "easy", according to the British Bankers' AssociationThe value of Christmas presents can "significantly" affect house contents insurance, warns NFU MutualAxa is launching My financial plan Day on November 21st in an attempt to encourage populace to take control of their financesNew research has revealed that many people in the UK lend or have a loan of sums of money to their friends each year, most important to many lessening out over the issue of unpaid debts

According to Abbey Loans, 44 million Britons decide to lend or borrow more than £50 from their friends each year, with the standard "friend-to-friend" loan totalling £116The company noted that such loans are often in use out to finance holidays, buying a new car and home improvements, but as many as 35 million people have fallen out with their associates over unpaid debts

Paul Morrish, head of Abbey Loans, advised: "Those that need cash for substance such as cars, holidays, home improvements or even cosmetic surgery would be better off asking a store to give the funds, rather than risking a relationship meltdown"At the start of the day, Citizens Advice warned that its offices had dealt with 15 per cent more debt evils in January 2007 than in the matching month last yearThe organisation affirmed that it had seen an increase in the number

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