New Delhi, July 11 -- As financial stress and complications intensify among households, a rising number of individuals in the country are turning towards informal borrowing from close networks to meet personal loan repayments, a trend that is clearly full of risks and possibility of setbacks.

In such an environment it is important for the borrowers to carefully measure the pros and cons of asking for funds from near and dear ones, especially friends.

Kundan Shahi, Founder, Zavo, says "When borrowing from a friend to repay a personal loan, consider several key aspects: communicate the reason clearly, define repayment terms and timelines, treat the arrangement with the seriousness of a formal loan, account for potential setbacks like job ...