Buy Now Pay Later Warning Issued


Buy Now, Pay Later debt

Buy Now Pay Later can be beneficial to most, but a recent report from Citizen Advice shows concern especially for younger customers who fail to pay within the allocated time scale. Not doing so results in interest being back dated and increasing the overall cost.

Young adults between 25 and 29 have on average £1300 of Catalogue debts. Buy Now Pay Later allows you to spread the cost over a set period of time, during this time, you are required to pay off the entire balance to avoid interest. Not doing so will result in the interest being back dated and this can increase the debt by several hundred or even thousands of pounds.

One shopper bought a £700 laptop from a catalogue company on a one-year interest-free deal.

Citizens Advice said he developed health problems which meant he had to give up work, and he struggled to pay back the final instalment of £150 during the interest-free period.

He was left with an interest bill that cost nearly as much as the laptop.

The charity also helped a man who bought a £600 tablet computer on a similar one-year deal. He still owed £100 at the deadline.

As a result he received an interest charge amounting to more than the cost of the tablet.

If you are concerned or know you cannot pay the entire amount owed within the time of the Buy Now Pay Later option, it's best not to take the offer, if you have and are struggling ensure you take advice from Step Change here.




Dad of 7, including Autistic Twins, first hand experience in Credit problems following the challenges faced with having Autistic children. (Unable to work due to supporting their needs, My credit rating became what can only be described as wrecked) Using my own experience, Credit 4 Everyone was born. A website dedicated to the rebuilding of a UK credit rating. The site was born providing the struggles in getting accepted and as things improved, the challenges one faces in maintaining a good credit rating. On this website you will find information regarding Pay monthly Credit catalogues, buy now pay later, mobile phone contracts for bad credit, current account options when your credit rating stops you getting even the most basic of services and personal loans/car finance. I will share my own experience which shows you how I built a credit rating with an Experian credit score of 120 and Equifax of 90 to a Credit rating both rated as Good in 2 years. How you can rebuild your credit rating, the companies that will help you on the journey and how things can improve. About the website Pay Monthly Catalogues with Credit, Buy it now pay later, Guaranteed Mobile phone contracts and Guaranteed no credit check bank accounts. Credit 4 Everyone specialise in helping people with bad credit get the credit they need. We offer Financial products and services for everyone and work hard to review products, our aim is in Helping you get accepted with our helpful hints and tips.

Be first to add a comment to this page. We will be happy to see your thoughts

Leave a reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Credit 4 Everyone
Logo