30 March 2006
The cost of starting again after breaking up with a partner could be as much s £13,500, according to Alliance & Leicester.
Heart-broken borrowers could put unnecessary strain on their purse-strings as well as their heart-strings by paying over £1,400 more in interest by choosing the wrong personal loan, according to the company.
Claire Alvey, personal loans manager for Alliance & Leicester, commented: "If a couple separate it is going to be hard on the wallet as well as the heart. The cost of splitting up can last longer than the heartbreak itself.
"Many people will need to borrow money to help them start afresh and replace any items bought jointly which the other half has kept."
Finding the best loan deal was just as important to those going through such an emotional trauma, she said.
"Splitting up is never going to be easy, and in an attempt to 'move on' from the relationship it would be easy to choose the wrong deal.
"By choosing a personal loan with an uncompetitive interest rate people could overpay by more than £1,400. This could be even more costly if they decide to use more expensive store cards or credit cards to make essential purchases. This overpayment could seriously affect your ability to enjoy your new single status," she added.
The firm found that just one per cent of couples have considered or have signed a contract dictating how joint purchases would be split in the event of a break-up.
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