BNPL Debt: A Growing Financial Concern
Update: 2025-11-16
Description
Buy Now, Pay Later services, once reserved for luxury items, are now being used for everyday essentials like groceries, indicating financial struggles for many. With over ninety-one million users in the US and a quarter using BNPL for food, debt repayment is becoming a significant issue. Forty-two percent of users made late payments in 2025, a worrying trend. The lack of transparency, as most loans arent reported to credit bureaus, creates phantom debt, making it difficult to assess a borrowers true financial situation. The CFPB found that sixty-three percent of borrowers have multiple simultaneous loans, and a third use loans from different lenders. With rising unemployment and the end of student loan forbearance, this quiet shift in consumer lending could have broader impacts.
The Daily News Now! — Every city. Every story. AI-powered.
Hosted on Acast. See acast.com/privacy for more information.
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
x
