Many parents believe it is easier to borrow cash off their offspring than deal with bank charges, research has shown.A study by MoneySupermarket.com revealed that 15 per cent of mums and dads think borrowing from their children is easier than making a bank claim or asking for money through another lender.Furthermore, 11 per cent admitted that they use their child's money to avoid credit card charges or other fees they would have to deal with through traditional sources of finance.A total of 30 per cent of parents admitted taking cash or borrowing from their child's savings account or piggy bank, with these people removing an average of £50.26.Raising a child can be expensive, however, with LV='s Cost of a Child report finding taking care of a youngster from birth until the age of 21 typically costs over £218,000."Using cash lying in a piggy bank is a good way of avoiding being stung by fees, although it is an idea to find other ways of arranging your finances to avoid these traps," MoneySupermarket.com head of banking Kevin Mountford said.Amir Hussain Amir specialises in personal loans, consumer debt and debt management.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk/search.aspx number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office. Registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
Please note that calls may be recorded and email traffic monitored for the purposes of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.
By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide