Name: Expert warns of buy now, pay later plans this holiday shopping season
Uploaded: 2025-11-04T19:42:59.309Z
Duration: 1 min 20 s
Description: Buy now, pay later plans can look enticing as they can split large purchases into smaller, more manageable ones, but experts warn they can rope you into even more debt.

Buy now, pay later plans can look enticing as they can split large purchases into smaller, more manageable ones, but experts warn they can rope you into even more debt.

A legal expert has raised concerns about the widespread use of buy now, pay later (BNPL) plans during the holiday shopping season. According to the expert, while these plans may seem attractive, they have led many consumers, especially from Generation Z, into increased debt, with little legal protection once terms are signed.

Statistics show that 76% of Americans use BNPL plans, and half of users have missed at least one payment. The expert emphasizes the importance of consumer education and awareness of potential penalties, advising shoppers to be mindful and to educate their families to avoid overspending and future credit problems.

Expert warns of buy now, pay later plans this holiday shopping season

Time is 515 on your Tuesday morning. As you are out holiday shopping, you do want to keep an eye out for buy now pay later plans. In this economy they can seem really enticing, but I spoke with an attorney who tells me that they can easily rope you into even more debt instead of less. Now some fast facts to consider. 76% of Americans use buy now pay later plans that can take one big lump sum and then ease them up over a few months. 72% of Gen Z use them and 50% of those who do use by now pay later plans. Have already missed at least one payment. Now the attorney I spoke with says she has seen more of these users calling her office asking for advice after they fell into more debt. With these plans, she told me there's not much in the way to protect you after you've already signed the terms. So it's not as though they're doing anything unlawful. You know what the protection really comes in with spreading education, understanding the potential for penalty is is really your best. Protection, you know, and you know, I wish there was more, but so budgets of course tighter this year. So Carter says to be more mindful and educate yourself as well as your kids about these plans. She says that it could be easy to find yourself overspending because of them and then finding yourself in credit trouble down the road.

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