Weddings are already a huge financial burden on couples and families, but the coronavirus pandemic has added to the frustration for couples who planned to marry this year. Hundreds of thousands of couples are paying back loans for weddings that haven’t even happened yet, according to a new report. Last week, online lending platform Loanry reported that 225,000 couples who have postponed their weddings are collectively paying back $3.7 billion in loans they took out to finance those celebrations. “Especially for the percentage paying off loans for weddings that haven’t happened.”“However, we can take a positive from this situation. Of the entire 20 million personal loans taken out in the U.S. last year, 1.5% were specifically to help couples pay for weddings, Loanry reported.

Source: Fox News October 31, 2020 17:03 UTC