73% of people say they're still waiting to be paid back by friends they lent money to, according to Lending Tree.
A 2023 national survey by Lending Tree revealed that nearly 3 out of 4 Americans (73%) who lent money to friends or family have not been fully repaid. The survey also found that about 25% said the unpaid loan damaged the relationship, and 43% admitted they regretted lending the money at all. Most loans were informal, often lacking any written agreement or clear repayment plan.
The data shows that while people lend out of goodwill, the emotional and financial consequences can be lasting. Experts advise setting boundaries and treating personal loans with the same clarity as business agreements to avoid conflict.$IOST
