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Consumers `increasingly experiencing debt problems` Over-50s `better at managing credit card debt` New banking rules `may restrict access to loans` UK `must reduce consumer debt` 700k `on Debt Management Plans` Recession `could lead to financial problems for retirees` Charity sees increase in debt, mortgage and loan arrear enquiries Retirees` finances `may be damaged by rate cut` Consumers `aiming to reduce spending` People `increasingly turning to illegal loans` Children raised in credit crunch `may be better able to manage money` Many parents `pushed into debt by adult children` Young people `failing to protect themselves for debt repayments` Consumers in East Midlands `relying less on debt to fund lives` Plans set out to help people in debt PPI ban `could leave consumers without loan cover` Govt `must step in to stop debt addiction` Cash-strapped Brits `see fraud as more acceptable` People `should not rely on mortgage rescue plan` Consumers `to take out £3bn in debt consolidation loans by Easter`

`No stigma` when borrowing money from family

18/12/2007

Consumers should not be ashamed when borrowing money off family and friends to stave off the threat of debt, a financial expert has claimed.

Many Britons potentially rely on those closest to them as part of a debt consolidation policy, with borrowing just showing that the consumer is "a little bit more stretched", according to PayPal.

A recent survey from the payment service found that 48 per cent of Brits had lent money to family or friends to help them out of a financial tight spot.

PayPal spokesperson Cristina Hoole said that those loaning money should always look at the risks objectively.

She added: "We need to be a little bit careful and if you are owed money there are simple ways of getting it back, including just asking for the money back. You can make it funny as well; it doesn`t need to be a serious affair."

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according