Money can be "embarrassing"

Tue, 18 Dec 2007

People who lend money to family members and friends ought to consider how they will get the money back, even though raising the issue may be "embarrassing", one expert has suggested.

Cristina Hoole, spokesperson for PayPal, said that any money borrowed from a friend, colleague or family is "real money" and should still be paid back.

"Equally if you have lent the money, you need to find ways of getting that money back because we tend to forget," she remarked.

Money is often an "embarrassing" topic to bring up, but people ought to ensure that they are not getting themselves in debt by "being the one that lends money to everyone else", Ms Hoole commented.

Citing research conducted by YouGov, PayPal recently stated that people in the UK have collectively lent friends and family £26 billion over the last 12 months.

According to the firm, 9.6 million people have fallen out with some members of their family because of lending money.
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