ONE FIFTH OF BRITS FALL OUT WITH FAMILY OVER LOANS THAT ARE NOT REPAID

One fifth of Brits have fallen out with scrounging family and friends who have failed to pay back debts, a survey has revealed.

Nearly half of people have lent family and friends up to £500, according to a survey of 2,000 people

However, a whopping 20% never saw that money again resulting in a fifth of Brits admitting to falling out with their loved ones over borrowed money.

The survey commissioned by 360vouchercodes.co.uk found that 18.5% saying they wouldn’t lend money to friends again and 12.5% wouldn’t lend to family again

The data also revealed that while 32.5 per cent of Brits would give their family members over three months to return the loan, the same figure would give their pals just a month to repay what they owe.

Yet while keeping our friends on a tight rein with repayments, 32 per cent of those surveyed admit they’ve paid someone back later than agreed.

Mike Meade, CEO from 360vouchercodes.co.uk, said: “It’s not shocking that we’re more prepared to loan money to our own family rather than our friends, but what is interesting is the amount of time we give people to pay us back.

“According to the National Debt Clock, the UK national debt has already passed the one trillion pound mark, and continues to grow at a rate of £5,170 per second.

“When looking at these figures, it’s easy to see why some of us are wary of lending our money, while others automatically expect not to receive repayment.”

The data also revealed huge regional differences between how much and to who people were willing to lend money.

Scots were the nicest to their friends with one fifth agreeing to lend them a whooping £500.

While East Midlanders topped the most tight-fisted list after almost 16% said they wouldn’t lend even their family a penny.