People in the UK: tell us if you’ve borrowed money from friends or family

📊 Business News Analysis: Our editorial team has analyzed recent developments from theguardian.com in the Business sector. This report covers key insights related to and emerging industry trends that professionals should monitor closely.

The Business landscape is evolving, with recent reports indicating notable changes. Britons often turn to family and friends to borrow money now, a new survey has suggested. The survey of more than 4,000 adults commissioned by non-profit Fair4All Finance found that while 25% of respondents had taken out a Buy Now Pay Later loan, 26% had borrowed from family and 15% from friends this year.

Evidence suggests that many of those surveyed borrowed from friends or relatives after they had been rejected by traditional lenders like banks. Younger adults, households with children, and people on zero-hours contracts or in lower-paid work, the survey found, are most likely to borrow from friends and family. The research also demonstrated that a quarter of all households would not be able to afford a £500 emergency bill without borrowing. We’d like to hear from people in the UK who have turned to friends or family for a loan, why they decided to do so and how this has affected them and their relationships.

Share your experience
Tell us if you’ve asked family or friends for a loan, for what, why you did not borrow from a traditional lender instead, and how this loan has affected you. Please share your story if you are 18 or over, anonymously if you wish. For more information please see our terms of service and privacy policy.Tell us hereMessage usYour responses, which can be anonymous, are secure as the form is encrypted and only the Guardian has access to your contributions.

We will only use the data you provide us for the purpose of the feature and we will delete any personal data when we no longer require it for this purpose. For alternative ways to get in touch securely please see our tips guide.Name Where do you live? According to reports that tell us a bit about yourself (e.g.

age and what you do for a living) OptionalIf you’ve had to borrow money from family or friends instead of from a bank or other professional lender, tell us what made you do this and how this has affected you
Please include as much detail as possible. According to reports that if you’re happy to, tell us how much debt you have and what you borrowed money for Optional
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As the situation continues to develop, industry participants in Business will likely monitor outcomes closely.

— Based on reporting from theguardian.com

💡 Key Industry Insights

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Market Impact: These developments in the industry may significantly influence market dynamics. Industry experts recommend monitoring these trends closely for strategic planning purposes.

Analysis Note: This comprehensive overview synthesizes current market intelligence from theguardian.com regarding industry developments and related sectors. Stay informed about ongoing developments in this rapidly evolving landscape.