Finance news from Loans Park

London (loans-park) June 20, 2006: A survey by Lloyds TSB has found that over 50 per cent of people in UK have to find a way to cope with unforeseen financial occurrence (UFO) every year.

In order to help its personal loan borrowers handle UFO, the bank has introduced a loan payment holiday of one month duration which consumers can take.

Lloyds TSB consumer lending manager Jason Nichols said "It's an unfortunate fact of life that we all suffer from unforeseen financial occurrences. When our customers experience such instances they want to be able to choose what is the best way for them to pay for it, taking into account their financial capability at that time."

He further added that “our research shows 75 per cent of our consumers would like to have the option of a loan repayment holiday to help them pay for UFOs and 69 per cent say it would help them to manage their debts better."