More people are ditching Buy Now Pay Later loans in favour of family help - but even they are charging interest

A recent survey suggests more people rely on family and friends for small loans than on Buy Now Pay Later options, with many borrowing under £250. The study by Fair4All Finance reveals that 26% borrowed from family, while 15% borrowed from friends this year, often due to being rejected by traditional lenders. This trend illuminates the need for accessible and affordable credit options, as highlighted by Fair4All Finance to prevent strained relationships and risky financial decisions.