Buy now, DEBT LATER
Jun 28, 2022
4 minutes
WORDS VERONIQUE HAWKSWORTH
As the nation plunges further into a cost of living crisis, more people than ever are turning to credit to stretch their finances. Indeed, Buy Now, Pay Later schemes (BNPL) are becoming increasingly popular with online shoppers. In fact, 17 million Brits have used a BNPL scheme.
BNPL allows buyers to make a purchase with a small upfront sum that will then be completed with a larger future payment or in instalments. The instalments are usually interest-free, which adds to the appeal. However, the schemes aren’t without their dangers, and failure to keep up with payments can lead
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