LeadStory

Scripps Local

Buy Now Pay Later caution, as more people miss payments

Scripps Local · 1 month ago
Scripps Local
Scripps Local
1 month ago

BNPL, or Buy Now Pay Later plans, make it so easy to spread out payments over time. But a new report finds more and more people falling behind on those payments. What you need to know about BNPL risks.

Breakdown
  • Buy now pay later splits purchases into installments for convenience
  • Excessive use can lead to missed payments and increased debt 11s
  • BNPL services now report payment data to credit bureaus 1m 1s
  • Over 40% of users made at least one late payment in the past year 1m 18s
  • Experts warn against using BNPL for everyday purchases 1m 22s
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