New Blood Entry — Care Credit by Barclays
Barclays / 2020
Poor mental health and money problems often go hand in hand. People with mental health problems are one and a half times more like to borrow money from friends and family than others.
And while getting a little help can be a good thing when you’re in financial trouble, studies show that in 50% of cases, informal borrowing puts a strain on the relationship or leads to it breaking down entirely.
Why?
Because informal loans are…well… informal.
CareCredit is a digital service/tool that lets people experiencing mental health issues take informal loans from their friends and family without risking misunderstandings or unrealistic terms of repayment.