Buy Now Pay Later: the risks of putting Christmas on credit

Millions of people are turning to BNPL to cover their costs this festive season

buy now pay later button on phone
Many consumers consider alternative financing options to cover rising costs at this time of year
(Image credit: Getty Images/B4LLS)

Experts are warning of the potential dangers of Buy Now Pay Later as research suggests more than one in four people will use such schemes to fund their Christmas costs. 

According to Citizens Advice, 28% of UK adults – equivalent to 15.1 million people – are likely to rely on BNLP this festive season. But lack of regulation means users are at risk of "unmanageable levels of debt and even bailiff action", the charity warned.

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